The Singapore-listed company said the 79,000-dwt Zhushui 5 (built 2012) was detained on the orders of Conirma Marine.
TradeWinds reported in August that the bulker had been sold to an undisclosed Greek shipowner for a reported $20.9m.
Seroja chief executive Husni Heron said the company was served with the arrest warrant on 21 October 2014.
On 25 July Seroja and Conirma Marine entered into a memorandum of agreement (MOA) for the sale of the panamax vessel
However, Conirma Marine did not take delivery as obliged under the terms of the MOA and further alleged that the vessel had deficiencies deeming it unfit for delivery.
But
