Arrested Tanker Auctioned Off

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On December 7, a tanker that had been detained was reportedly auctioned off for US$12-million dollars.

What happened?

The tanker ‘Pretty Scene’ owned by the Parakou Group in Asia was reportedly detained in Durban. However, the tanker has now been auctioned off for R164 million. The tanker had gained international sensation when it was judicially arrested in Durban.

The court had reportedly ordered the vessel to be sold within 90 days.

Active auction:

The auction took place at the premises of Bowmans in Durban, the correspondent law firm in the matter. The auction had been intense and nearly took over 45 minutes to reach a final bid price of US$12-million, approximately R164-million excluding the additional payment for Bunker fuel at US$288 282 (R3,9-million).

The tanker was bagged by Bowmans who were acting on behalf of Credit Agricole Asia Ship Finance (the applicant) and instructed premier maritime and mining auction house, Clear Asset to take the vessel to public auction.

Auctioneers Clear Asset received auction requests from Nigeria, Brazil, USA, Greece, the UAE and across Asia. The second highest bidder was from Greece.    

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Source: Vessel Tracker