Asia/Pacific News
STX Pan Ocean Vessel Arrested in Singapore
South Korean shipping company STX Pan Ocean has confirmed that its 72,940 dwt bulker New Irene was arrested in Singapore last week, Fairplay reports.
A company representative told Fairplay that the vessel’s charterer had filed a speed claim on the vessel.
"As per our charter-party, the vessel’s speed should be around 14 knots, but our charterer complained it is only running at 12 knots," they said.
"This case has gone a bit out of proportion, speed claims are quite normal, so I don’t understand why this has to be taken to the court, since we could have settled it amongst us."
The representative said that, as ordered by the Singapore court, it was depositing $300,000 "to solve the matter," and the vessel would be released as soon as the payment had gone through.
Ship & Bunker reported earlier this year that in 2012 there had been a 36 percent year-on-year rise in the number of ships arrested in Singapore.
