Greek owner fails in Alkyon bulker arrest appeal

A Greek shipowner has failed in a UK court appeal against a bulker arrest in a bitter row with NatWest Markets over security provisions.

Stallion Eight Shipping was trying to overturn a high court ruling in July in which Justice Nigel Teare dismissed a bid to release the 36,000-dwt Alkyon (built 2015) in the UK.

The owner had argued the ship should be freed unless the bank provided a cross-undertaking in damages for the loss flowing from the arrest.