Second Gulf Navigation vessel seized | GulfNews.com:
"A second Gulf Navigation vessel has been seized after the company once again defaulted on loan repayments, according to Dr Sandeep Kadwe, Gulf Navigation Managing Director.
The Gulf Eyadah, one of the company’s two very large crude carrier (VLCC) vessels, was seized “late last week” in Port Bahama, Kadwe said. It is believed that the vessel is now in anchorage just outside the port.
The latest news from the apparent struggling Gulf Navigation follows the seizure of its other VLCC vessel Gulf Sheba last month in a Dutch port.
In a statement to the Dubai Financial Market (DFM) on Saturday, Gulf Navigation stated that claims made against the Dubai-based shipping company by European lenders DNB and BNP Paribas had been dismissed by a Dutch court."
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