DNB has seized the 299,000-dwt Gulf Sheba followinga default on loan repayments, the owner said in a statement.
According to vesselsvalue.com the2007-built VLCC, which was grabbed in Rotterdam, is today worth $41.8m. This is less than half the $110m paid by the owner for the ship as aresale.
Gulf Nav is now seeking advice from itslegal team, having been in discussions with potential buyers of the tanker forsome months.
