A newbuilding resale by Sinokor in 2011 was allegedly inflated by $5m to $7m to conceal a payment to Hannibal Muammar Gaddafi, a son of former Libyan dictator Muammar Gaddafi, who met his fate later the same year.

So claims Libya’s General National Maritime Transportation Co (GNMTC) in a London arbitration and related English High Court proceedings over the circumstances under which the tanker owner acquired its only bulker, the 169,097-dwt Daehan newbuilding Homer Hulbert (now Jabal Nafusa, ex-Daehan Hull 1045, built 2011).

The