Greece’s MFS Shipmanagement sees 11 vessels arrested, sells 4

Greece’s MFS Shipmanagement sees 11 vessels arrested, sells 4

Athens: Greece’s MFS Shipmanagement has had 11 of its vessels stopped or arrested at ports worldwide and is selling four bulk carriers.

The company has already sold one vessel and is currently engaged in selling three more, according to reports from Compass Maritime. The shipbroker attributes the sales to the low dry bulk market and pressure from MFS Shipmanagement’s creditors.

Today, the China-built handy logger Asian Prosperity (29,033 dwt, built 2011) is to be sold at auction in Gibraltar.

On July 25, the panamax bulker Kanishka (76,286 dwt, built 2005) will be auctioned in South Korea. The Japan-built vessel has been laid up since March 13. Equasis shows the vessel has been detained once within the past three years.

The China-built supramax Daxia (56,811 dwt, built 2011) will be sold or auctioned at a later date, having been in Malta since April. The vessel has had one detention over the past three years.

Earlier this month, the handysize bulker Judi (was Altai; 18,320 dwt, built 2000) was reportedly in Capetown sold for $2.1m by private treaty. Equasis shows that the vessel is on the black list of the Paris MOU on port state control.

All the vessels mentioned have been operated through China-based International Maritime Advisors & Management Corp since 2013.

No-one at MFS Shipmanagement was immediately available for comment when contacted by Splash today.

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.

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