Ships Arrested as Bank, Bunker Suppliers Make Claims

by Ship & Bunker News Team
Friday August 29, 2014

The Royal Bank of Scotland (RBS) has recently had three vessels controlled by Elmira Tankers Management (Elmira) of Greece arrested, while bunker suppliers are also seeking payments against at least one of the ships, industry news site Tradewinds reports.

The 13,300 deadweight tonne (dwt) chemical tanker Liquid Success was arrested last week in Durban, South Africa after RBS placed an $8 million claim against it in July.

Liquid Success's owner, Elmira-affiliated Brunel Shipping Co., was in default on a mortgage from the bank.

Bunker suppliers including World Fuel Services (WFS), Brilliant Maritime Services, KPI Bridge Oil, and Bunker Monaco, had also filed claims against the vessel totalling around $850,000.

In addition, the vessel faced $70 million in associated claims, based on debts owed by other ships with the same owner.

Liquid Success is now on course to be auctioned on September 9.

Meanwhile, RBS also arrested the 11,750 dwt Liquid Fortune, owned by Elmira-controlled Marigold MAI Enterprises, in Singapore on Tuesday.

The bank placed a $14.5 million claim on the ship, citing the company's default on mortgage payments.

Earlier this month, RBS had another Elmira-connected vessel, 13,900 dwt Endless Investments Inc.-owned Liquid Silver, arrested in Singapore on a $12.26 million claim for defaulted mortgage payments.

RBS has also been involved in an ongoing dispute with Taiwanese ship owner Today Makes Tomorrow (TMT) over unpaid debt.

Ship & Bunker News Team
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