Ship default prompts resale opportunities

Ship default prompts resale opportunities
Published: 14 February 2006

A full ship of cement destined to Ibeto Cement, Nigeria will be sold to prospective buyers as a result of default of US$1.0m in time charter payments due to owners. In addition it has been learned that an import license was never supposedly issued for this cargo, with the Nigerian authorities currently cracking down on imported cement in favour of domestically produced product.
 
Time charter operators declare that they had re-assigned demurrage monies to headowners under the Gencon c/p, but Ibeto Cement after various attempts has not replied to headowners demands for payment, and thus cargo will be sold after waiting 45 days approx for a berth in Port Harcourt.
 
Any interested purchasers can contact Altomar Maritime Inc to bid on the basis:
 
Ordinary Chinese Portland Cement 31,922t quality conforming to GB 175-1999 in bulk. For sale FOB Nigeria, delivery in 10-15 days. Can be delivered in Atlantic or any Med/Baltic ports also (reply chartering@altomar.com)