India’s largest LPG player, Varun Shipping, appears to be sorting out some of its problems. It managed last week to release one of its arrested vessels.
The Mumbai-based shipowner reached an out-of-court settlement with creditors to release the 57,200-cbm LPG carrier Maharshi Vamadeva (built 1991).
The vessel had been under arrest since February following a Bombay High Court order related to non-payment of bills for supplies from Singapore Marine Engineering & Spares.
According
