Asia/Pacific News
Two Bulk Carriers Arrested in Singapore
Two bulk carriers have been arrested in Singapore, according to the latest records from the Supreme Court of Singapore.
The 64,000 dwt Ultramax bulk carrier Sainty Valiant was arrested on September 7 following action by Resource Law LLC.
VesselsValue.com data indicates the vessel is controlled by China's Sainty Marine and worth $15.01 million.
On September 9, Marine Managers Ltd controlled Supramax Trident Challenger was arrested following action by Dentons Rodyk & Davidson LLP.
The vessel is valued at $9.47 million by VesselsValue.com.
The circumstances leading to the arrests are currently unknown, but such action is typical in instances of payment dispute.
Both vessels remain under arrest.
Earlier this year Sainty Marine became China's first listed shipbuilder to apply for bankruptcy and reorganisation.
