Tale of intrigue emerges over berthed Essco Bounty

Crew ‘paid off’ to sail her from West Africa to Cape Town RAY SMUTS A GREEK bunker company seeking to recover an unpaid debt, committed to paying and repatriating a ship’s crew in return for sailing her from West Africa to Cape Town so that she could be arrested and sold off at auction. This intriguing tale emerged recently when the 5 986dwt Panamanian-registered general cargo ship, Essco Bounty, was finally auctioned to Medusa SA for US$860 000 – but only after the Cape High Court had been asked to confirm the sale. The 24-year-old ship, formerly named Grigory and Gorun and crewed by a complement of 14 from Ghana, Myanmar (formerly Burma), and Romania, was abandoned in Tema, Ghana, in August of last year. Some US$600 000 was reported to be outstanding for bunkers and unpaid wages for up to seven months; the vessel had no food, no bunkers and was subject to black-out at night. A few weeks later, it was reported that negotiations were ongoing with the bunker company, Brilliant Maritime Service, which committed to paying off the crew and repatriating them, in exchange for their co-operation in sailing the Essco Bounty to Cape Town where they (Brilliant Maritime) intended re-arresting her to have her sold. The vessel was duly arrested by the sheriff of Cape Town on her arrival after which Brilliant Maritime approached the Cape High Court for an order to sell the ship. The Essco Bounty was then put up for judicial sale at the offices of law firm, Webber Wentzel Bowens, representing Brilliant Maritime. Presiding over the sale was auctioneer, Captain Roy Martin, of Admiralty Sales, Durban, who tells FTW proceedings stood down after the highest offer of US$860 000 came by telephone from a Greek bidder (the highest bid at the sale itself US$810 000 by a Durban lawyer acting on behalf of a Pakistani client). “The conditions of sale stipulate the auction can be adjourned, the main reason that shipbroker Galbraith of London had put a valuation of US$1.5 million on the vessel, taking into account similar sales elsewhere.” As to why he believes Cape Town was chosen to re-arrest the ship, Martin says: “I think this is because our law in South Africa is such that if you are a creditor, you are guaranteed a fair shake here.” Martin, who surveyed the Essco Bounty, says in his opinion the vessel is in poor condition with roughly US$1 million required to repair the engine room alone, plus further financial outlay on areas like the bridge. “The only interest this vessel will have is for somebody wanting to fix her up in order to trade. If that happens and all the certificates are valid, she is worth about US$2.6 million.”