A Canadian investment firm has seized a ship chartered out to International Seaways and is looking to take a second in an attempt to claw back a loan made to an unscrupulous borrower.
Toronto-based Third Eye Capital Corp filed a suit in a federal court in Galveston, Texas, last Friday. The firm asked for the arrest of the 51,281-dwt PTI Cygnus (built 2007), accusing owner Wayfare Transoceanic of owing it $53.8m
