The arrest of an aframax tanker in India has underscored how the rapid turnover of ownership, management and vessel names in the shadowy side of the market is making it increasingly difficult for suppliers to secure payment.
An arrest warrant was issued on Sunday against the 105,000-dwt crude carrier Argent (built 2005) in the Indian port of Sikka at the request of an entity called Winzard (Hongkong), which claimed it was owed $750,000 for providing various services to repairs and maintenance of various parts/equipment supplied to the vessel.
