At the Jamaica Conference Centre in Kingston last week the auction took place of 2011-built, Panama-flagged, 22,988 gt bulk carrier Trading Fabrizia (IMO 9481960). A Greek shipper, Bluefin Marine of Athens, made the highest bid, $10.3m.
Trading Fabrizia had sailed into Jamaican waters at the end of October 2016 and was arrested on behalf of Italian outfit Jebmed SRL, which was owed a debt of nearly $700,000 by Capitalease, the owner of the vessel.
he auction followed a Supreme Court order that Jamaica’s admiralty bailiff, Augustus Sherriah, should appraise and sell the ship if Capitalease failed to provide alternative security of just over $1.9m to satisfy Jebmed and three other parties to a claim against it. The other parties had made claims for fuel supplied to the ship, wages due to the crew, maintenance and other incidentals. Justice Carol Edwards approved the sale of the ship last June, citing the possibility of depreciation from ordinary wear and tear and the natural elements.
Jebmed tried to have the ship released into its possession so that it could take it to dry dock in Malta, where the ship is registered, and sort out the relevant certificates which had expired. However, the court rejected its application. Interestingly, Norwegian Hull Club now lists Trading Fabrizia as “Bright Star” and as Liberia-flagged, but this is not yet confirmed elsewhere.