A Greek shipowner is fighting the arrest of his handysize bulker by lenders earlier this year, in a case that reveals unusual inconsistencies in the way ships are valued for the purpose of calculating loan covenants.
The controversy revolves around the 36,000-dwt Alkyon (built 2015). The Jinling Shipyard-built vessel is managed by Piraeus-based Ariston Navigation but owned by Stallion Eight Shipping, a company directed by Yiannis Triphyllis on behalf of members of his family.
