As human beings we tend to be risk seeking(gungho in taking on risks) when we should be risk adverse (afraid of taking risk) and vice versa, often at the wrong time. In the case of Rickmers Maritime, I am not sure which is the case. Rickmers Maritime is a business trust that I wrote about in the past that operates a collection of container ships. They were charter out during the good times at rates of US$25,000/day and now that the charter is coming to an end, the prevailing charter rates is closer to US$5,000/day. This resulted in a plunge in cash flow, and the repercussion is that they are suppose to repay $200 mil in loan in 2017 and couldn’t get the debts to be refinance because the discounted cash flow of the ships are much less than in the past, and to the potential lenders, it does not ......