EMEA News
Turkish Owned Bulkers to Be Sold after South African Arrest
Tuesday January 12, 2016
Two 81,000 DWT bulkers, Zeynep K and Sadan K, owned by Turkey's Kaptanoğlu Holding are set to be sold at a January 12 auction following their arrest last week in Durban, South Africa, Turkish media reports.
VesselsValue.com assesses the 2010-build Panamax bulk carriers to be worth $12.9 million each.
The two Marshall Islands-flagged vessels are reported to have been arrested by a local court upon the request of Italy's Unicredit Bank, citing vessel foreclosure.
The arrests were an "isolated event" that does not affect any of the company's other business segments, according to reports.
Earlier today Ship & Bunker reported that the Dry Bulk Index Monday had fallen to another record low of 415.
