Second Elmira ship held

Singapore’s admiralty sheriff has arrested a second Elmira-controlled chemical tanker latest court documents show.

The 11,747-dwt Liquid Fortune (built 2000) was detained on the orders of lawyers from Rodyk & Davison.

AIS data shows the ship presently moored between Tuas and Jurong Island in position 01° 23.54'N, 103° 64.02'E.

The exact details as to why the ship has been arrested remain unclear, but it is likely to be related to outstanding finance payments.

The 13,900-dwt Elmira-controlled Liquid Silver (built 1999) was arrested in Singapore on 29 July 2014 by the same law firm.

TradeWinds reported that the ship has been detained at the request of Royal Bank of Scotland, for allegedly missing finance payments.

RBS says the ship’s owner missed payments of $252,000 in March and June on a loan issued to fund the vessel’s acquisition in 2007.

That loan was subsequently amended several times. The owner also failed to make an interest payment of $67,000 due at the end of June.

In mid-July, the UK bank called in the loan, demanding that the outstanding $12.26m be immediately repaid.

When the money was not forthcoming, it moved against the ship when it arrived in Singapore and is now asking the court to sell it.

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