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arrived Jiangyin Scrapyard 21.01.15
Singapore releases impounded ship to COSCO
As Reuters reports, Singapore authorities returned a dry bulk vessel to China COSCO Holdings , six days after it was impounded over a financial dispute with one of its clients, court documents and a company official said on Thursday. The 74,000-tonne bulk carrier, Song Shan Hai, was released by Singapore's Supreme Court late Wednesday, easing concerns over China's relationship with the global maritime community. "The court released the ship because we gave them information stating that the other company had broken the contract with us," said a Hong Kong-based COSCO official. COSCO, operator of the world's largest bulk cargo fleet and a major global container shipper, remained in talks with its unidentified client over an unpaid bill of around $1 million, the official added. More at http://www.reuters.com/article/2011/11/10/shipping-cosco-idUSL4E7MA0IJ20111110
COSCO expects Singapore to release seized ship in days
SINGAPORE Nov 9 (Reuters) - China's COSCO Holdings expects its dry bulk carrier, seized in Singapore last week over a payment dispute, to be released in days, a company official said on Wednesday. The 74,000-tonne bulk carrier, Song Shan Hai, was seized on Friday by the law firm Asia Legal, which is representing an unknown client of COSCO's, according to Singapore's Supreme Court. "Our company chartered out this vessel to another company. The company did not abide by the contract and did not pay us," said a Hong Kong-based official with China's top shipping conglomerate. "We will get it back soon." He said the incident was not related to lease disputes with ship owners earlier this year.
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