RUI NING 1
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Bulk Carrier Arrested in Singapore
Another bulk carrier has been arrested in Singapore, according to the latest records from the Supreme Court of Singapore. The Shanghai Leading Energy Shipping-controlled Rui Ning 1 was arrested on Thursday at 12:00pm local time, following instruction from local law firm Oon & Bazul LLP. VesselsValue.com value the 2001-built Supramax at $3.33 million, perhaps notably given the current dry bulk markets, above its scrap value of $2.08 million. Reasons for the arrests are currently unknown, but such action is common in instances of payment dispute. http://shipandbunker.com/news/world/997912-another-bulk-carrier-arrested-in-singapore
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