November 4 - Sources close to the situation have told HLPFI that ships within Abis Shipping's fleet of multipurpose vessels are going under the hammer, after the bank pulled its financial support for the ships.
HLPFI learnt this morning from Adrem Shipbrokers that 12 of the Abis Shipping vessels were being auctioned - see more about the individual ships here.
Abis Shipping's website indicates that it currently has 21 vessels under its technical management, with three companies providing commercial management services for the vessels: Denmark based Ocean7 Projects, Dutch company Amasus Shipping and Norway's Peak Shipping.
According to sources, the situation - which has been going on for quite a while - has been dealt with "professionally" with none of the vessels being arrested and ships allowed to finish current sailings or deliver any cargoes already on board.
The ships are then being told to go to Rotterdam or Malta, where HLPFI understands they will be put into "warm lay-up" and await their fate.
Sources suggested that the Port of Rotterdam is already congested, however, with ships from the fleet of Dutch company Flinter, which also confirmed at the end of October that ING Bank was refusing to provide any more finance for nine of its vessels.