Rickmers Group distances itself from RMT's woes

Germany's Rickmers Group has said it is unaffected by the financial problems afflicting Singapore boxship owner Rickmers Trust Management (RMT).

RMT said this week it could not make interest payments of SGD 4.26m ($3m) due under its SGD 100m 2017 notes.

The company continues to seek a deal with bondholders that would allow it to survive.

But Rickmers Group said its Rickmers Holding operation does not have "any common financing structures" with RMT.

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