Rickmers Maritime sounds alarm for profit loss in FY15

It’s facing impairment charges of US$129m.

Rickmers Maritime is bracing for profit in Q4 and full-year to plunge, according to a media release by the company.

Due to the flagging chartering markets, the company is looking at about US$129m of impairment charges on its vessels in its Q4 financial results.

The impairments are non-cash items and reportedly will not hurt the company's cash position and cash flows.

“Further details on the full year results of the Trust will be disclosed when the Trustee-Manager releases the Trust’s unaudited consolidated financial results for FY2015 in February 2016,” stated the media release.

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