Mercator Lines Bulker Finally Sold in India

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

News ID: 71947

Date: 30 January 2017 - 08:49

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.