The Bridgewater-132: Crew Feedback and Vessel Data

In a notable auction event, a vessel has been successfully sold for an impressive $3.3 million. The winning bid came from Singaporean buyers, specifically Kim Heng Marine, marking a significant acquisition in the maritime industry. This transaction highlights the continued demand for quality ships and the vibrant nature of the auction market in maritime commerce.

On December 22, 2023, three vessels connected to Swiber Holdings were officially seized by a consortium of banks in Singapore. The arrest took place at ASL Shipyard, with United Overseas Bank (UOB) acting as the security agent for the banking syndicate that had provided financing to the vessel owner through a sale and leaseback arrangement. According to reports from The Business Times, legal documents reveal that the anchor handling tug supply vessels—SWIBER ELSE-MARIE, SWIBER MARY-ANN, and SWIBER ANN-CHRISTINE—were detained due to an outstanding mortgage claim totaling over US$43.4 million (approximately S$62.7 million). The owner of these vessels is identified as Bukit Timah Offshore AS (BTO), a company established in 2008 under the Norwegian KS system by RS Platou Finans Shipping AS, specifically to support the sale and leaseback transactions with a wholly owned subsidiary of Swiber Holdings. The arrangements included bareboat charters lasting nearly a decade, allowing BTO to acquire the vessels with the intent of leasing them back to Swiber.