TMT says it will now use the 276,000-dwt ore carrier F Elephant (built 1989) to fulfill the balanceof a COA contract worth $75m contract with Hunan Valin Steel.
The F Elephant had been under arrest in Ningbo for over a year in a $107m freight-forward-agreement(FFA) dispute with BHP Billiton
An initial auctionby Ningbo People’s Maritime Court failed to produce a buyer. A new auction datewas subsequently set for 16 May.
“Analysts
