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FSL secures release of Nika 1

Singapore: First Ship Lease Trust has secured the release of the product tanker Nika 1 held in China for over a month. FSL Trust provide a $2.8m bankers guarantee to secure the release of 47,000 dwt product tanker Nika 1 at the weekend. The vessel was arrested on June 8 in Qingdao on behalf of Daxin Petroleum Singapore over unpaid bunker bills by charterer Groda Shipping and Transportation, which defaulted on the charter in May. Groda also defaulted on its long term charter of sistership the Verona a which was arrested in Japan for unpaid bunker bills and released last month. FSL plans to rename the Nika 1 as the FSL Hamburg. The vessel is being sent for drydocking in China before being traded on the spot market. [19/07/10]

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