08 September 2015

[080915.EN.SEA] Arrested 735-TEUer and Chemical Tanker Up For Auction in Singapore

A SECOND arrested vessel in Singapore will be sold at auction later this month, records from The Supreme Court of Singapore show, reports Vancouver's Ship and Bunker.

The 735-TEU feeder vessel Star Jupiter was detained in March following action by local Singaporean firm Asia Practice.

The sheriff noted that bunker valued at a non-negotiable S$130,500 (US$91,647) are on-board the vessel, the total for which would also have to be paid by the purchaser.

Online vessel valuation service has assessed Star Jupiter's current market value to be US$3.71 million, down from its US$3.85 million valuation at the time of arrest.

Bids are to be made no later than 3pm on September 14 and must be made with a deposit of S$50,000 (US$35,400).

Also up for auction this month is the Malaysian-flagged chemical tanker Imbak, following it's arrest in March over a dispute with Singapore bunker player Sky Oil & Gas Asia Pte (Sky Oil).

Source : HKSG.

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