Indian Essar-owned capesize bulker MV Kiran has been arrested for the second time in less than a year. The Indian-flagged 175,048-dwt MV Kiran (built 1994) was detained on Wednesday on the orders of lawyers from Incisive Law LLC.
MVKiran presently moored off Singapore’s east coast
The exact details as to why the ship has been arrested remain unclear, but it is likely to be related to outstanding payments for services. MV Kiran was arrested in late October 2013 by Singapore’s Cara Shipping to secure a London arbitration over allegedly unpaid charter hire. Cara Shipping initiated the proceedings against the Indian owner over $250,000 in allegedly unpaid voyage freight and demurrage.
Essar Shipping owns a 38-strong fleet of bulkers, general cargoships and tugs and a solitary VLCC.
Dry Bulk Shipping News - Shipbroker Notes