Mount Street-owned product tanker faces uncertain future after arrest

London-based Mount Street’s investment in an older tanker appears at risk as the ship has languished under arrest in Singapore since early March.

Oil trader Hanwa Singapore seized the 37,800-dwt product tanker Banyan Pride (ex-P Russel, built 2002) in Singapore on 7 March over a $10.5m claim for a cargo that was allegedly misdelivered before the UK investment manager bought the ship.