VLCC Gulf Sheba arrested in Rotterdam

Sept. 20, 2013 at 02:29 by Mikhail Voytenko in Accidents

VLCC Gulf Sheba was arrested in Rotterdam on Sep 13 13 under instruction from creditor DNB, an agent of the lenders for Gulf Sheba Corporation, a Gulf Navigation subsidiary, for default in repayment of interest and principal towards the end of July. Gulf Navigation said in a statement it failed to make an installment of $1.8 million. Company added it was considering proposals from prospective buyers of the vessel prior to the arrest.

VLCC Gulf Sheba arrested in Rotterdam

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