The Port State Control had directed the Ocean Explorer be anchored after crew members did not get salaries; both engines are non functional and crew fears going adrift if the anchor chain snaps in the weather
Shuaa Capital has completed its leveraged buyout (LBO) of Allianz Marine and Logistics Services with $160 million Secured Overnight Funding Rate-based (SOFR) acquisition finance facility from National Bank of Fujairah (NBF) and Apicorp.