Rickmers Maritime Trust has defaulted on its SGD 100m ($70.2m) notes after the grace period to make an interest payment expired.
The Singaporean boxship owner was unable to pay SGD 4.26m under its notes due in 2017.
It explained that a default has occurred, which is likely to affect its ability to continue as a going concern.
RMT missed the payment deadline on 15 November and was given a five-day grace period.
The
