Asia/Pacific News
Singapore Auctions Tanker After 10 Months Under Arrest
Friday January 27, 2023
Singapore's authorities have auctioned off a tanker arrested in the city-state's waters almost a year ago.
The oil products and chemicals tanker Victor 1 was auctioned for SGD 15.4 million ($11.7 million) on January 16 on the instructions of the High Court of Singapore, according to a notice in the city-state's Government Gazette this week.
"Any person having a claim against the ship or the proceeds of the sale thereof on which they intend to proceed to judgment should accordingly do so before the expiration of that period [90 days from the sale]," the authorities said in the notice.
The vessel, controlled at the time by Greek interests, had been arrested on March 26 of last year.
