More banks have given up waiting for Nobu Su’s Today Makes Tomorrow (TMT) to resolve its financial problems and have instead begun foreclosing on ships.
Cathay United Bank, the lead arranger of a consortium of Taiwanese banks, was behind the arrest of TMT’s 317,000-dwt VLCC Fortune Elephant (built 2011), which was reported as being seized off Singapore by TradeWinds’s online news service last Thurday.
The
