Boxship owner goes bust

Shipowner Rickmers Maritime Trust is to be wound up, victim of the Hanjin collapse last summer. Analysts VesselsValue said the value of its fleet fell by around 45% due to distressed market transactions following the collapse of Korean carrier. It also suffered because all its 14 vessels are in the Panamax class which has suffered due to the widening of the Panama Canal Locks. [+]

Hanjin liquidation looms

The Seoul Central District Court said on 9 February said it would declare Hanjin bankrupt on 17 February leading to the shipping company’s liquidation. The assets of Hanjin, once the world’s seventh largest container line, will be auctioned off to help pay off its debts. Analysts said that two containerships ... [+]

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