Canadian shipowner Fednav is looking to obtain nearly $1.2m in security ahead of arbitration in London over a ship that suffered engine problems at sea.
The privately-held bulker owner sued late last week in Miami federal court, alleging it suffered damage after bulk cargo seeped into fuel tanks and damaged engines aboard the Naviera Ulises-managed, 33,600-dwt Gea (built 2005) last year.
