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News ID: 71947 |
Publish Date: 08:49 - 30 January 2017

Mercator Lines Bulker Finally Sold in India

Bombay high court raises $4m from disposal of arrested panamax.

Mercator Lines Bulker Finally Sold in India
According to MANA, The 74,000–dwt panamax Garv Prem (built 2006) fetched $4m following a court order for its auction on 7 October last year.
The ship was sold to settle outstanding dues run up by its Singapore-based owner.
It had been lying at Gangavaram since last March.
Three of the vessels’s creditors - Hong Kong-based Madison Pacific Trust, International Bunker Services and Jotun India - filed separate lawsuits in 2016.
 
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