The Norwegian bank issued the arrest notice after Gulf Navigation subsidiary Gulf Sheba Corporation defaulted on repayment of interest and principal in July.
Gulf Navigation noted that it had defaulted on a loan instalment of $1.8m, due in July, in its Q2 presentation last month.
The company revealed yesterday that the vessel has been held at the port since Friday, and and that itwould be holding an extraordinary general shareholder meeting at an unspecified time, giving no further details.
According to the statement, the company had been discussing proposals from prospective buyers for the ship prior to its arrest, subject to approval from both lenders and shareholders. The six year old vessel was delivered to Gulf Navigation in 2007 for $110m.
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