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Rickmers Maritime signs ship charter agreement with Maersk Line

Rickmers Trust Management Pte. Ltd. (“RTM”), the Trustee - Manager of Mainboard - listed Rickmers Maritime (the “Trust”) , on March 18, 2014 announced that it has successfully secured new employment for two of its vessels, the company said in its press release. The vessels, Henry Rickmers (formerly Ital Fastosa) and Richard Rickmers (formerly Ital Festosa) , both 3,450 TEU panamax container vessels, have been chartered to Maersk Line, the world’s largest container shipping company. Henry Rickmers will be deliver ed to Maersk Line this week and Richard Rickmers two weeks later. The vessels have each been chartered for a n initial minimum period of 12 months , up to a maximum o f 24 months. The two vessels will be chartered at a floating rate based on an index agreed upon by both Maersk Line and RTM. The charters are expected to generate revenue for the Trust amounting to an estimated US$ 5 million over the initial 12 months .