Rickmers Maritime Trust (RMT) says it avoided a long winding-up process by selling 14 boxships to Navios Maritime Partners.

As TradeWinds reported yesterday, the Singapore-listed trust offloaded its entire fleet to the Angeliki Frangou-led company for $113m.

The fleet transaction received positive comments from analysts, who described it as “fair” and “low risk”.

RMT told TradeWinds in an e-mailed statement: “The proposed sale meets the trust’s objectives of delivering value on an accelerated basis to all creditors to avoid uncertainties and risks involved in a protracted winding-up process.”