A handymax bulker owned by Chinese trader Wanpeng International was briefly held under arrest in Singapore this week at the request of a timber company.
Zhangjiagang Heyixing Timber Co successfully petitioned the High Court of Singapore to issue an arrest warrant for the 47,200-dwt bulker Prosperity 102 (built 1997) after filing an SGD 285,000 ($212,740) cargo claim alleging damages to timber carried on the vessel.
