On March 4, a very large crude carrier (VLCC) Brightoil GEM had been arrested by China’s Haikou Maritime Court at the request of the vessel owner’s creditor bank.
What happened?
The company BNP Paribas filed to Haikou Maritime Court for detention the tanker Brightoil GEM in January as the company was unable to pay back its loans of $40m. Haikou Maritime Court approved the bank’s application and seized the ship.
Two of the tankers owned by Hong Kong-based Brightoil, the 107,518 dwt Brightoil Lion, 318,000 dwt Brightoil Glory were detained at the end of 2018.
Vessel detained
The 300,000 dwt VLCC Brightoil GEM, built in 2013 and registered in Hong Kong, is 319 metres in length and 60 metres in depth. The estimated value of the ship is around $60m. It is the largest and most valued ship that Haikou Maritime Court had detained.
Haikou Maritime Court will open a court session for the case on 26 March.
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Source: seatrade-maritime
