An Iranian controlled bulker has fled arrest off Sri Lanka,dealing a blow to efforts by DVB Bank to seek payment on defaulted loans.

The Sri Lankan navy fired warning shots to attempt toprevent the escape of the 73,700-dwt Amina (built 2005) but ultimatelyofficials gave up efforts to stop the ship once it reached internationalwaters, Reuters reported.

TradeWinds will report on the US government’s approval of aneventual judicial sale of the ship and the similarly arrested 74,800-dwtUppercourt (ex-Iran Bojnoord, built 2005) in tomorrow’s weekly edition.

DVB