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Arrested tanker auctioned off

The arrested "Pretty Scene" has been auctioned off for R164 million. The tanker, owned by the Parakou Group in Asia, attracted much international interest after it was under judicial arrest in Durban. The auction was hotly contested and took over 45 minutes to reach a final bid price of US$12-million, approximately R164-million excluding the additional payment for Bunker fuel at US$ 288 282 (R3,9-million). Bowmans were acting on behalf of Credit Agricole Asia Ship Finance (the applicant) and instructed premier maritime and mining auction house, Clear Asset to take the vessel to public auction. As per conditions stated in the Court Order, the vessel was to be sold within 90 days of the Final Court Order dated Nov 1, 2017. Auctioneers Clear Asset saw global interest coming from Nigeria, Brazil, USA, Greece, the UAE and across Asia. The second highest bidder was from Greece. The auction took place at the premises of Bowmans in Durban, the correspondent law firm in the matter.

Arrested tanker to be auctioned

The "Pretty Scene" which was arrested in June 2016 in Durban and remained at anchorage since was put up for auction. A Court Order (Case Ref A71/2017) has instructed the sale of this vessel through South African Auction House, Clear Asset Pty Ltd. The auction will take place on Dec 5, 2017,at 10 a.m. at Bowmans’ premises in Durban (correspondent attorneys) acting for Credit Agricole Asia Ship Finance Ltd.