Vietnamese tanker seized in Singapore, payment dispute likely

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M/T Nautilus Pioneer, the Vietnamese vessel seized in Singapore on December 14, in a photo on the website of Ho Chi Minh-based Prime Shipping. M/T Nautilus Pioneer, the Vietnamese vessel seized in Singapore on December 14, in a photo on the website of Ho Chi Minh-based Prime Shipping.

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A Vietnamese oil tanker has been seized in Singapore over a possible payment dispute following a complaint by shipping litigation and marine insurance firm AsiaLegal LLC.
The 13,700-DWT M/T Nautilus Pioneer was impounded on Monday morning, Ship & Bunker reported quoting Supreme Court records.
The circumstances leading to the action are not known yet, but the news site suggested that such action is typical in cases of disputes over payment.
VesselsValue.com values the tanker, built in China in 2008 for Ho Chi Minh City-based Khai Nguyen (Prime Shipping), at US$8.88 million.

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