The feud between the Greek Vafias and Turkish Karamehmet shipowning families has escalated, with accusations of perjury and fraud against the principal and executives of Advantage Tankers.
Vafias-linked shipowner Psara Energy claims it has new evidence that proves the Advantage Tankers' fleet is actually still controlled by Geden Holdings, something Advantage has always denied.
Advantage, created in 2015 to buy 11 aframax and suezmax tankers and seven product tankers from collapsed Geden Holdings, is 85% owned by Gulsun Nazli Karamehmet-Williams, daughter of Geden owner Mehmet Emin Karamehmet, Psara Energyalleges.
