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Union Marine entrusted with two SAM bulk carriers
Singapore-based Union Marine Management Services has been appointed by DVB Bank as the monitoring agents and crew managers for the vessels Sam Lion and Sam Wolf.
Both the vessels, previously owned by SAM Shipping Group, are presently under arrest due to non-payment at Rizhao and Caofeidian in China respectively.
The financial falling apart of SAM Shipping has seen creditors chase ships around the world. Credit Suisse will hold an online auction in the US to sell another bulker, the SAM Eagle.