Rickmers Maritime's Q2 falls 14% but maintains quarterly distribution payout
Rickmers Maritime's second quarter net profit fell by 14 per cent to US$7.7 million (S$9.7 million) on the back of a 3 per cent drop in charter revenue to US$35 million.
The lower charter revenue was due mainly to 37.9 scheduled off-hire days for the dry-docking of three vessels.
On account of a contractual increase in fixed operating expense and vessel management fees, the trust incurred higher vessel operating expenses.
This led to weaker net profit during the quarter.