Hong Kong-based bulker operator Ausca Shipping has arrested a panamax bulker belonging to China’s Shanghai Time Shipping in Singapore.
High Court records indicate that the 75,500-dwt Shi Dai 8 (built 2012) was seized on Tuesday over $2.6m charter hire claim.
In many similar claims, the arrest of vessels have been made to obtain security for arbitration proceedings.
TradeWinds has approached lawyers acting on Ausca’s behalf for further comment.
