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The Greek Hermes Marine Management had signed a memorandum of agreement (MoA) to buy the 'Phoenix Vanguard' for 38.7 million U.S. dollars, but the sale fell through because the buyer handed over only a 10 percent down payment. When Hermes Marine Management failed to pay the remaining amount, the parent company of the 'Phoenix Vanguard'. MOL pocketed the 3.87 million U.S. dollars down payment and cancelled the sale agreement. The MoA, signed between Gamma One Shipping Company and Phoenix Tankers on Jul 8, 2019, stated that the vessel would be delivered to the buyer by Oct 20, according to the arrest order from the Gujarat High Court. Gamma One Shipping Company claimed in court papers that Phoenix Tankers wrongfully terminated the MoA on Oct 16 and misappropriated the down payment. The tanker has been under arrest at Sikka since Nov 28, after Gamma One Shipping Company, the Marshall Islands-registered entity that tried to buy the tanker earlier this year, filed an application to arrest the vessel in the High Court of Gujarat at Ahmedabad, India. Gamma One Shipping Company has claimed that Phoenix Tankers, the registered owners of 'Phoenix Vanguard', which pocketed the deposit, has wrongfully terminated a sale agreement.

The 'Lady Boss' - which was auctioned last spring - is still moored at the Levante dock of the port of Alméria, while it was prepared to leave after more than two years. The vessel was intercepted by Customs and Civil Guard patrols in August 2017 in international waters of the Alboran Sea, when it transported about 16 tons of hashish. On Feb 19, 2019, it was put up for auction. Its sale was authorized by the Government Delegation for the National Drug Plan, once awarded to the State by a final decision of the National Court. The auction wascarried out by the Port Authority of Alméria, and the 'Lady Boss' was sold to Abdul Karim Kartich for 201,000 Euros (excluding taxes). Once the commissioning works have been completed and the authorization of the Maritime Captaincy has been received, the ship may leave the Levante dock, where it has been moored since the end of November 2018. Spanish report with photo: https://almeria360.com/empresa/11122019_lady-boss_190314.html

Live export company Wellard has struck a deal to sell the world's largest purpose-built livestock carrier, the 'Ocean Shearer', for US$53 million (A$77.05m), in a bid to remedy the company's finances. Wellard will use the proceeds from a $77m ship sale to square up its finances. The company's share price has been boosted by the announcement that a Kuwaiti trader will buy the 'Ocean Shearer'. The vessel left Townville on Dec 10 enroute to Darwin, ETA Dec 13, and was set to make a voyage to Indonesia. The ship will be bought by the Kuwaiti company Al Mawashi Limited, which trades in Australia as Kuwait Livestock Transport and Trading Company (KLTT). Wellard has been restructuring the company's finances and selling off assets over the last two years to reduce mounting debts.

Chinese dry bulk operator Ningbo Marine has announced the acquisition of 2012-built handysize bulk carrier Shelduck through its subsidiary Zhejiang Tongli Shipping. The 34,500 dwt was sold by Greek owner Seastar Chartering for a price of $9.5m. Ningbo Marine plans to rename the vessel ZJE 6.

The Sindh High Court has announced the public auction for the sale of the 'Al Rehman' at Karachi on Dec 11, 2019. According to court announcement, offers were invited on 'As is where is basis' for the sale of vessel, which was berthed at the East Wharf of Karachi, being in Suit No. 895 of 2019 (Integr8 Fuels DMCC Versus Prima Marine FZE and others). The court has set a reserve price at Rs. 26.5 million and put last date of Jan 13, 2020 for receiving offers. All offers are subject to acceptance of Honourable High Court of Sindh. The vessel can be inspected on Dec 26, 2019.It has been arrested at Karachi since May 2018.