An Ariston Navigation bulker has been released after a seven-week arrest over allegations that the company failed to provide additional security when the ship’s market value fell below loan covenant levels.
The 36,056-dwt handysize Alkyon (built 2015) was arrested at the Port of Tyne by NatWest Markets — the renamed investment banking arm of Royal Bank of Scotland — on 26 June when it arrived in Newcastle, northeast England, after a notice of default by NatWest.
