Asia/Pacific News
Arrested Singapore Bunker Tanker with $1 Million 380 cSt Cargo up for Auction
Records from The Supreme Court of Singapore show that the Singapore-based bunker tanker Sophie 9, which was arrested in June, is to be sold at auction on October 28, 2015 along with her cargo of 4,078.068 metric tonnes (MT) of 380 cSt marine fuel oil.
The cargo is valued by the Sheriff at S$1,320,768.00 ($941,580.46), or S$324 ($231) per metric tonne.
Data from Ship & Bunker shows that on Monday the average price of IFO380 in the port of Singapore was $252.00 pmt, having risen $22.50 from the seven-week low of $227.00 pmt hit on September 30, 2015.
The 2011-build, 6,141 dwt vessel is valued at $8.33 million by VesselsValue.com.
The bunker tanker also has bunkers onboard valued at a non-negotiable S$44,192.00 ($31,500) that, as is usual in such auctions, are excluded from the sale and will have to be paid by the purchaser in the event of a sale.
In June Ship & Bunker reported that Sophie 9 was arrested following action taken by local law firm Rajah & Tann Singapore LLP.
