Singapore Authorities Arrest Ships for Unpaid Debt

Two vessels have been arrested by Singapore authorities due to debts of around $4.7 million. The vessels were belonging to Italian shipping firm Rizzo Bottiglieri De Carlini Armatori SPA (RBD Armatori). The first vessel was the 109,000-deadweight tonne crude oil tanker, Adele Marina Rizzo, and the second the 178,000-tonne dry bulk carrier, Cavaliere Grazia Bottiglieri.

The company had unpaid debts estimated at around $4.7 million to bunker supplier Fratelli Cosulich Hong Kong Limited and agency Madeira Lda. Lawyers of mentioned companies are in talks with the ship owners.

This incident highlights the current condition on part of the shipping industry which has been hit by prolonged economical destabilization.

Vessels Adele Marina Rizzo & Cavaliere Grazia Bottiglieri (Source: Marine Traffic, Stale Herving)

Sources: ReutersShip & Bunker, Supreme Court of Singapore

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