The world’s largest semi-submersible barge has been reported as being arrested in Singapore, according to press reports.
The Singapore admiralty sheriff detained the 50,000-dwt semi-submersible barge Gavea Lifter (built 2002), owned by Fairmount Marine, on Wednesday evening.
The Panama-flagged vessel was arrested on the instructions of local law firm Rajah & Tann Singapore LLP. It is considered likely to be related to outstanding payments for services.
The world’s largest semi-submersible barge has been reported as being arrested in Singapore, according to press reports.
The Singapore admiralty sheriff detained the 50,000-dwt semi-submersible barge Gavea Lifter (built 2002), owned by Fairmount Marine, on Wednesday evening.
The Panama-flagged vessel was arrested on the instructions of local law firm Rajah & Tann Singapore LLP. It is considered likely to be related to outstanding payments for services.
This is the fourth vessel to be arrested in Singapore waters since the start of October, experts believe that this is a prime indicator of deteriorating market conditions as owners struggle with cash flow.
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