SINGAPORE - 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.
