A Swiber Holdings anchor-handler is to be sold by a court in Singapore.
The 5,000-bhp Swiber Valiant (built 2007) was arrested in August by Luxembourg-based asset financier PK AirFinance (PKAF), TradeWinds reported.
PKAF claimed the single-shipowning company Southsea was in default of loan covenants after parent Swiber Holdings’ filing for judicial management.
It demanded immediate payment of the $17m outstanding.
Online database VesselsValue assigned a market value of just $2.35m
