Asia/Pacific News
Update: Supramax Bulk Carrier Arrested in Singapore
The bulk carrier Niton Cobalt has been arrested in Singapore, according to the latest records from the Supreme Court of Singapore.
Ship & Bunker understands that the 2004-built Supramax is controlled by Niton Capital, and is valued at $6.79 million by VesselsValue.com.
The 52,50 DWT Niton Cobalt was detailed following action taken by local law firm Allen & Gledhill LLP, with the arrest taking place on November 3, 2016 at 2:15 p.m. local time.
The circumstances leading to the arrest are currently unknown, but such action is common in instances of payment dispute.
Correction: An earlier version of this story stated that, based on data from VesselsValue.com, Niton Cobalt was owned by Switzerland-based SGM Shipping Services. SGM Shipping Services has told Ship & Bunker it has no economical interest in the vessel.
