Geneva-based dry bulk carrier owner and operator SAM Shipping (Shipping Asset Management) controlled MV SAM Jaguar and MV SAM Hawk is set to go up for auction in August 2020. 2013 built supramax bulk carrier 57K DWT MV SAM Jaguar will be auctioned by India’s High Court of Gujarat and 2013 built supramax bulk carrier 57K DWT MV SAM Hawk will be auctioned by Sheriff of Singapore. MV SAM Jaguar and MV SAM Hawk have been arrested by Credit Suisse to collect loans. Currently, MV SAM Jaguar is worth around $14 million and MV SAM Hawk is worth around $13.5 million. Furthermore, 2010 built handysize bulk carrier 32K DWT MV SAM Eagle was arrested in the United States. On 17 July 2020, MV SAM Eagle was sold to Melinda Maritime for around $4.7 million. Shipbroker CW Kellock, which ran the MV SAM Eagle auction, will be conducting the MV SAM Jaguar and MV SAM Hawk auctions. 21-July-2020
Geneva-based dry bulk carrier owner and operator SAM Shipping (Shipping Asset Management) controlled 2010 built handysize bulk carrier 32K DWT MV SAM Eagle is sold in an online sale handled by UK Admiralty shipbroker CW Kellock for around $4.7 million. In June 2020, Credit Suisse obtained an order from the District Court of the Southern District of Texas to sell the handysize bulk carrier of SAM Shipping (Shipping Asset Management). Liberia based Melinda Maritime has acquired MV SAM Eagle. This is the second online ship sale by CW Kellock during the pandemic lockdown. Credit Suisse is selling off two (2) more bulk carriers from the SAM Shipping (Shipping Asset Management) fleet in auctions to be held in Singapore and India. Mortgagee Credit Suisse has appointed CW Kellock to handle the sales of supramax bulk carriers 57K DWT MV SAM Jaguar and MV SAM Hawk of SAM Shipping (Shipping Asset Management). Furthermore, the Singapore Supreme Court has ordered the sale of MV SAM Jaguar. The High Court in India has ordered sale of MV SAM Hawk. 16-July-2020
Geneva-based dry bulk carrier owner and operator SAM Shipping (Shipping Asset Management) controlled 2010 built handysize bulk carrier 32K DWT MV SAM Eagle will be auctioned in July by District Court of the Southern District of Texas. MV SAM Eagle will be sold free of all liens, claims, mortgages. SAM Shipping (Shipping Asset Management) controlled MV SAM Eagle was arrested by Credit Suisse. MV SAM Eagle is one of several SAM Shipping (Shipping Asset Management) bulk carriers targeted by Credit Suisse. President of Azerbaijan’s son-in-law has appeared as the beneficial owner behind SAM Shipping (Shipping Asset Management). 9-June-2020
Geneve based SAM Shipping (Shipping Asset Management) has been trying to sell handysize bulk carriers. In 2009, SAM Shipping (Shipping Asset Management) was established in Switzerland for ship trading, ship operations, and ship management services. SAM Shipping (Shipping Asset Management) has built up a fleet of handy and supramax bulk carriers. But unfortunately, SAM Shipping (Shipping Asset Management) has been in a series of legal rows with financial institutions that have led to several ship arrests.
SAM Shipping (Shipping Asset Management) has been trying to offload some of its last remaining bulk carriers:
• MV SAM Wolf (2012 built 57K DWT)
• MV SAM Lion (2012 built 57K DWT)
• MV SAM Panther (2010 built 33K DWT)
SAM Shipping (Shipping Asset Management) has been circulating IMO Tier-II bulk carriers MV SAM Wolf, MV SAM Lion, and MV SAM Panther on the Sale and Purchase (S&P) market. In March 2020, SAM Shipping’s (Shipping Asset Management) creditor Credit Suisse repossessed 2013 built supramax bulk carrier 57K MV SAM Jaguar due to the long arrest of the MV SAM Eagle. In September 2019, Malta-based FIMBank arrested Credit Suisse financed MV SAM Eagle at US Gulf due to dispute over alleged bill-of-lading fraud. 7-April-2020
Geneva-based dry bulk carrier owner and operator SAM Shipping (Shipping Asset Management) controlled 2012 built supramax dry bulk carrier 57K DWT MV Sam Lion has suffered hull damage after hitting rocks off the Spanish enclave of Ceuta in North Africa on Tuesday. MV Sam Lion’s flat bottom has been damaged and is being patched up. MV Sam Lion is safe and stable and no pollution has been reported up to now. MV Sam Lion was carrying 40,000 metric tonnes of cement from Turkey and reported as cargo is undamaged. MV Sam Lion will be moved to a ship repair yard, as the damage was worse than had at first been thought. MV Sam Lion’s hull cracks will be reinforced and steel plates will be welded to the hull. All the damaged tanks will then be emptied. Swiss dry bulk carrier owner and operator SAM Shipping (Shipping Asset Management) investigating the incident. 9-July-2018