King & Cie. Fund 76 – MS King Robert Threatens Loss Of Charter Company

Lawyers inform investors of shipping funds about damages possibilities auch King & Cie. is affected by the current crisis in the shipping markets. The King & Cie. yield Fund 76 – MS “King Robert”, a capesize bulk carrier, which launched in the fall of 2008, in service, is chartered for five years and two months after delivery to the Japanese the Sanko steamship company. Thus, the revenue of the Fund should be safe at least until the end of 2013. But now, the loss of revenue is threatening the Fund. The charterer, the Sanko steamship from Japan, is obviously in serious economic problems. Threatens the total failure and thus the total loss to investors.

Charterer the Sanko steamship in payment difficulties as the information service fund telegram reported on March 17, 2012, Sanko had invited his business partner to a crisis meeting on March 16. It was to the precarious financial situation of the charterer, the competitive pressure and the low freight rates on the international markets of the ship make difficult to create. The agreement After Sanko to March at all shipowners already have unilaterally reduced the Charter rates and announced for April, not the contractually agreed payments. Ships with new Charter contracts to operate the Charter Treaty firmly closed to five years probably not break even may be obsolete in the face of this development in all likelihood. Because either is all parties by Sanko of a reduction of the Charter rates approved by, or the Japanese company will apply for protection from creditors.

This would mean that a new charterer should be found for the MS “King Robert”. In the current market situation with devastating low Charter rates, it will be difficult to get contracts, which can allow the a cost covering operation of vessels. Compensation for investors for investors of the King & Cie. yield Fund 76 – MS “King Robert” begs the question, in light of the disaster now looming and impending total loss of their invested money whether they properly discussed in the run-up to the investment decision.