Asia/Pacific News
Panamax Bulk Carrier Arrested in Singapore
The 1997-built Panamax bulk carrier Carola has been arrested in Singapore, according to the latest records from the Supreme Court of Singapore.
The arrest took place on August 16, 2016, following action by local law firm Rajah & Tann Singapore LLP.
Data from VesselValue.com indicates the bulk carrier is controlled by Germany's Johann MK Blumenthal GmbH and is worth little more than its scrap value of $2.49 million.
The circumstances leading to the arrest are currently unknown, but such action is typical in instances of payment dispute.
Overall, the number of ship arrests in Singapore has fallen in recent years, with official data provided to Ship & Bunker by the Supreme Court of Singapore showing last year the number of arrests were down for a third consecutive year.
