Hoa Sen, a ship formerly owned by the Vietnam Shipping Industry Corporation (Vinashin), has been detained at a port in the Republic of Korea as a debt security.
Hoa Sen ship, Photo: Vinashin
According to Nguyen Canh Viet, general director of Vinalines, which was assigned ownership of Hoa Sen last July when the government was restructuring Vinashin, told Tuoi Tre yesterday the ship’s former owner owed a South Korean partner US$4 million.
The South Korean creditor had thus requested authorities to detain the ship, Viet said.
He said the ship’s direct owner, Vinashin Lines under Vinalines, is now negotiating with its South Korean partner to settle the debt.
Vinashin bought Hoa Sen from Italy for VND 1.3 trillion ($63 million) in 2007.
Source: Tuoi Tre
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