London judge orders $108m deposit to free ship in Singapore

The 333m-long Marshall Islands-flagged oil tanker Miracle Hope, which was arrested in Singapore waters by the Supreme Court Sheriff, is anchored in the Eastern Bunkering Anchorage of the Singapore Strait.
The 333m-long Marshall Islands-flagged oil tanker Miracle Hope, which was arrested in Singapore waters by the Supreme Court Sheriff, is anchored in the Eastern Bunkering Anchorage of the Singapore Strait. PHOTO: ANGLO-EASTERN/ FACEBOOK
New: Gift this subscriber-only story to your friends and family

The trade mayhem caused by the coronavirus pandemic played out in a London court after an oil tanker was arrested in Singapore in March, following a legal tussle involving companies from around the world.

On April 27, London High Court Justice Nigel Teare, in an unusual move, ordered two defendants to deposit US$76 million (S$108 million) as security into a Singapore court to free the tanker Miracle Hope, which was arrested in Singapore waters by the Supreme Court Sheriff over an alleged trade default.

Already a subscriber? 

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

Unlock these benefits

  • All subscriber-only content on ST app and straitstimes.com

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you

Join ST's WhatsApp Channel and get the latest news and must-reads.

A version of this article appeared in the print edition of The Straits Times on May 05, 2020, with the headline London judge orders $108m deposit to free ship in Singapore. Subscribe