World News
Another Bulk Carrier Arrested in Singapore
Friday March 25, 2016
Another bulk carrier has been arrested in Singapore, according to the latest records from the Supreme Court of Singapore.
The Shanghai Leading Energy Shipping-controlled Rui Ning 1 was arrested on Thursday at 12:00pm local time, following instruction from local law firm Oon & Bazul LLP.
VesselsValue.com value the 2001-built Supramax at $3.33 million, perhaps notably given the current dry bulk markets, above its scrap value of $2.08 million.
Reasons for the arrests are currently unknown, but such action is common in instances of payment dispute.
The arrest follows that of a number of other bulk carriers in Singapore so far this year, including that of the handy size bulk carrier Magic Orient.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 510.00 | 2.50 | 611.00 | 4.00 |
| Rotterdam | 477.00 | 1.00 | 618.50 | 4.00 |
| Houston | 469.50 | 0.50 | 610.00 | 2.00 |
| Fujairah | 501.50 | 1.50 | 708.50 | 3.50 |
| Global 20 Ports Average | 532.00 | 2.00 | 711.50 | 0.00 |
| Global 4 Ports Average | 489.50 | 0.50 | 637.00 | 0.50 |
| Global Average Bunker Price | 571.00 | 1.00 | 759.00 | 0.50 |
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