A VLCC owned by an obscure Hong Kong-registered shipowner has been languishing under arrest in Singapore for the past two weeks at the request of China’s Qingdao Free Trade Development Investment Management Co.
The plaintiff in this case, whose line of business Bloomberg says includes investing in commodity contracts, tax liens, venture capital companies, and other miscellaneous investing, seized the 299,000-dwt tanker Inherit (built 2000) over a cargo claim on 14 November, but on Tuesday its owner HK Albatross Maritime had yet to secure its release.
