World News
Georgiopoulos Linked Bulk Carrier Arrested in Singapore
Capesize carrier Sparta last week became the latest dry bulk vessel to be arrested in Singapore, according to records from the Supreme Court of Singapore.
The arrest took place on November 12, 2015 at 2:30pm local time, following instruction by local law firm Virtus Law LLP.
Court documents indicate the action was taken by Deutsche Bank who is claiming $81.2 million.
Data from VesselsValue.com show the 178,000 dwt 2010-built vessel is currently worth $24.16 million and owned by Maritime Equity Partners.
The privately held bulker owner is managed shipping tycoon Peter Georgiopoulos, and includes Oaktree Capital Management, and Lion Cao Private Equity Maritime (Lion Cao) as its investors, according to Lion Cao.
Last month five bulk carriers were among the vessels arrested in Singapore.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 553.50 | 2.50 | 673.00 | 1.00 |
| Rotterdam | 514.50 | 1.00 | 651.00 | 1.50 |
| Houston | 545.00 | 4.50 | 671.00 | 1.00 |
| Fujairah | 543.00 | 0.50 | 747.00 | 0.00 |
| Global 20 Ports Average | 574.00 | 0.50 | 748.00 | 8.00 |
| Global 4 Ports Average | 539.00 | 1.50 | 685.50 | 0.00 |
| Global Average Bunker Price | 626.50 | 2.00 | 800.50 | 0.50 |
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