Rickmers Maritime, once a 10% high dividend yielding shipping trust, have updated that they are not able to pay the interest and the principal on their US$179 mil senior debt due on Mar 2017. I written about shipping trusts in the past, and have invested in them in the past. I felt that they are always being analyzed in a broad stroke that these are bad investments. In the case of Rickmers, it is turning out to be one as this once high yielder stop paying for dividends. In the case of FSL Trust, they are working something out. I am currently not invested, but watching what they do and how 2017 turned out. There are risks, both on the positive and negative side. This could still turned out to be a 10-20% yielder. This piece is about Rickmers. And specifically on their bond holders. So the management’s proposal ......