Rickmers Maritime reports 4Q and FY16 losses; auditors doubt trust’s ability to continue as going concerns

SINGAPORE (Feb 16): The trustee-manager of Rickmers Maritime, reported 4Q16 net losses narrowed to US$48.4 million ($68.7 million) from $129.6 million a year ago.

Full year losses widened 39% to US$180.09 million due mainly to the lower charter revenue generated and vessel impairments amounting to US$168.7 million during the year in review.

Rickmers Maritime is a Singapore business trust formed to own and operate containerships mainly under fixed-rate time charters to leading container liner companies.

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