Essar Shipping’s 175,000-dwt bulker Kiran (built 1994) has spent the past few weeks swinging at anchor in the custody of the Singapore sheriff as Germany’s Dr Peters seeks to recoup around $3m in unpaid hire owed on the 301,000-dwt Ashna (built 1999).
The vessel in question was chartered to Essar as part of a sale-and-leaseback deal arranged in 2004.
Essar sold the ship to Dr Peters KG (limited partnership) affiliate DS-Rendite Fonds Nr 108 VLCC Ashna GmbH & Co Tankschiff KG for $80m.
