Rickmers Maritime CEO: Divestment is the only way forward

Bondholders' rejection of Rickmers Maritime's restructuring proposal for the crisis-struck carrier could mean "a long and painful liquidation of the company," says Søren Andersen to ShippingWatch. Divestments are a necessity.

"I am terribly sorry that our bondholders chose to say no today. The proposal for a restructuring was not only designed to help Rickmers Maritime Trust along a little, but the propel it far forward" says CEO Søren Andersen to ShippingWatch.

The bondholders on Wednesday voted against a restructuring plan for the struggling company at a meeting in Singapore. The company could thus become the latest victim to succumb to the dire container industry.

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