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Singapore seizes Italian firm's ships due to unpaid debt
Singapore's Supreme Court approved the arrest this month of the 109,000-deadweight tonne crude oil tanker, Adele Marina Rizzo, and 178,000-tonne dry bulk carrier, Cavaliere Grazia Bottiglieri, according to the court's website. The two ships are being held as collateral for unpaid debt owed to maritime firms Fratelli Cosulich Hong Kong Limited and Madeira Lda, said Kevin Kwek, a Singapore-based lawyer for Legal Solutions LLC, which seized one of the vessels. "There is an outstanding debt from the owners … for around $4.7 million," Kwek told Reuters. "We are currently in talks (with RBD Armatori)."
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