Another Cosco ship arrested in Singapore

Singapore: For the second time in just six weeks a ship belonging to Cosco has been arrested in Singapore. The Cosco Hong Kong Shipping owned 72,437dwt bulk carrier Fu Kang was arrested in Singapore on Monday by the law firm Oon & Bazul due to arbitration-related issues.

The Panama-flagged vessel had sailed from Taizhou in China on 12 January.

The incident follows quickly on from another embarrassing arrest for China’s largest maritime conglomerate. In December a heavylift ship belonging to Cosco Shipping was stopped in Singapore for a couple of days as debts were chased up.  [21/01/14]

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