US-based leasing company Icon Capital is chasing Turkey's Geden Lines over a failed sale-and-charterback deal for a Geden suezmax.
Lawyers for Icon have told a US judge that they believe they can show they are owed $19.9m in damages after Geden allegedly defaulted on the bareboat charter of the Rongsheng-built, 156,500-dwt Center (renamed Shamrock, built 2011).
Icon acquired the ship from the Turkish shipowner at an undisclosed price in 2011 in a financing deal and chartered it back to Geden on a bareboat basis for $20,000 per day with a purchase option for $64.5m
