Two tuna purse-seine vessels that have been under arrest since November 2017 have been cleared for liquidation by the High Court of the Marshall Islands and are now for sale.
The F/V Fong Seong 668 and F/V Fong Seong 696, formerly owned by the Taiwan-based Weelee International, were placed under arrest in Port Majuro after lawsuits were filed by two Taiwan banks, a Japanese corporation, and Hansen Helicopters, according to the Parties to the Nauru Agreement.
According to a recent court judgment, Basil M Karatzas, the founder and CEO of Karatzas Marine Advisors and Co., a New York, New York, U.S.A.-based shipping finance and shipbrokerage firm, has been appointed liquidation trustee and “the vessels are to be sold in the immediate future.”
“We are delighted to be designated the liquidation trustee for the sale of these two well-regarded and good performers of pelagic purse-seiner tuna fishing vessels,” Karatzas said in a press release. “We are looking forward to exercising diligently our duties as liquidation trustee and maximizing value for all parties involved.”
Both vessels are approximately 90 meters in length, registered in Vanuatu, equipped to engage in the purse seiner method of fishing of tuna, and are registered with the Western and Central Pacific Fisheries Commission (WCPFC). Additional information on the vessels and the liquidation process can be found at the Karatzas Marine Advisors website.
