Rickmers – BT

Rickmers to pay more for loan

Rickmers Trust Management Pte Ltd, trustee-manager of Rickmers Maritime, announced on Friday that one of its lending banks has continued to invoke the market disruption clause in one of its loans.

Consequently, a higher rate of interest will be levied on the loan, which will result in an increase in interest cost of approximately US$37,500 for the current fixing period ending August 28, 2009.

This increase in interest cost will not have a significant impact on Rickmers Maritime’s earnings per unit for the financial year ending Dec 31, 2009, it said.