3 Swiber-linked vessels of Norwegian ship lessor seized in Singapore

Singapore

A NORWEGIAN ship lessor has been caught in the debt web of Swiber Holdings, with three of its vessels in Singapore arrested by a syndicate of banks.

Court documents obtained by The Business Times show that the anchor handling tug supply vessels Swiber Else-Marie, Swiber Mary-Ann and Swiber Ann-Christine were arrested over an outstanding mortgage claim of over US$43.4 million.

The plaintiff in the arrest is United Overseas Bank (UOB), which is understood to be acting as security agent for the syndicate of banks that had extended financing to the…