Hellenic salvage contracted - Vernicos Zouros - a deal to refloat a bulker that ran aground off the Greek island of Oinousses late last week. Vernicos Zouros will free the 53,565-dwt Marine Stars (built 2006), which has been stuck since 18 August.
Observers note two Vernicos tugs are monitoring the Marine Stars, which is located near a number of fish farms and beaches frequented by summer tourists. Market sources say the owner of the supramax, Aegeus Shipping of Greece, appointed Vernicos under an agreement called Lloyd’s Open Forum, which means the size of the salvage award will be determined at a later date.
The arbitrator assigned to the case will likely factor in the value of the vessel, its cargo and a number of other variables when the contractor comes to collect.
Some industry sources claim the Marine Stars is carrying close to 51,000 tons of grain, which leads some to believe the cargo may be worth as much as $30m.