Singapore-listed Rickmers Maritime Trust (RMT) is to be wound up, the trustee-manager confirmed in a statement released Wednesday.
It said it had taken the decision after it was unable to reach an agreement with its lenders to restructure its debt, or raise new equity.
RMT said its failure to repay some debt obligations and various breaches in loan covenants cast material uncertainties on its ability to continue as a going concern.
