News

Sold to Aliaga Breakers towed by Tug Horoz

Sold to Breakers 455 USD/TO as is Khor Fakkan

Ukraine’s Asset Recovery and Management Agency (ARMA) responsible for seized assets during the Russian war has received the court authority to proceed with the sale of the ÄNika Spirit', the Ukraine has detained since 2019. The product tanker, which was involved in an incident pre-dating the February 2022 invasion, will be sold to provide funds for the Ukrainian defense efforts. It can be more effective in selling seized Russian assets instead of the prior plan to manage the assets for income. THe ARMA started preparations for an online auction to sell the tanker after receiving authorization from the Dnipro District Court of Kyiv. The agency had appealed to the court for authority and is in the process of seeking an independent appraiser to set the value of the tanker. The vessel, then sailing as 'Neyma' was involved in an incident in Nov 2018 where it claimed to have grounded near the Kerch Strait Bridge's main channel. The channel was blocked to coincide with the passage of three Ukrainian naval vessels from Odesa to the port of Mariupol. The vessels were attacked by Russian forces which boarded the ships and seized 24 Ukrainian crew members. The Russian authorities charged them as civilians for violating the Russian border. The tanker berthed in July 2019 in Izmir where the Ukrainian authorities moved to detain the ship for its involvement in the incident. The vessel was displaying the name 'Nika Spirit', but was still using the same IMO identification number as Neyma. Ukraine released the crew but continued to hold the vessel. The ARMA took custody of the tanker after the invasion and in 2023 reported it had selected a manager to operate the 'Nika Spirit' until 2026. The agency has instead decided to sell the ship to quickly raise badly needed funds for Ukraine. The agency also has control of the bulk carrier 'Emmakris III', which was in the port of Chornomorsk at the time of the invasion. ARMA presented documentation in court showing the vessel’s beneficial owners were a Russian company, Linter, registered in the city of Rostov-on-Don, although the ship is registered in Panama and listed as being managed by a company in the UAE.

Sold to Breakers 473 USD/TO

The State proceedings from the planned sale of the 'Matthew' were set to be largely wiped out by the costs of maintaining the vessel over the past 14 months. The bulk carrier was seized on Sep 26, 2023 after a drug interdiction operation by the Naval Service, Gardaí, Army Ranger Wing, Air Corps and Revenue Commissioners. While initially valued at €9.5m, the freighter has depreciated in value since then, while the Revenue Commissioners confirmed that protection and maintenance of the vessel has cost the State €5.3m to the end of September. For the past 14 months, the ship has been berthed between Marino Point and Passage West in Cork, pending the conclusion of ongoing court proceedings, under the provisions of the Customs Act, 2015.. Eight men are due to face trial before the Special Criminal Court in Jan 2025 over the seizure. The plan is to dispose of the vessel, most likely by public auction. The vessel is now forfeit to the Revenue Commissioners. A number of individuals are the subject of legal proceedings being taken by An Garda Síochána and the 'Matthew 'is an exhibit in those proceedings and remains under the care and management of Revenue, as the seizing authority. Protecting and maintaining the 'Matthew' is costing the State €380,000 per month. Generators have to be regularly operated to keep the ship in operational status. For maintenance reasons, the ship cannot be fully shut down, even though this would reduce costs. Once all prosecutions arising from the seizure are concluded, the State will seek a court order to allow the 2.2 tonnes of drugs to be destroyed by incineration. Gardaí have liaised with police in the United Arab Emirates, United States, China, the UK, Spain and the Caribbean over the bulk carrier and its movements in the weeks before its seizure off the Irish coast.