The drilling rig Deepsea Metro II, that is anchored in Curacao waters, will be judicially sold by public auction. Partner and maritime law expert Mayesi Hammoud assists the executing party, DVB Bank America NV, in the judicial sale. The Court of First Instance of Curacao has granted an order for the auction to take place on 1 February 2016.

The current owner of the vessel is Chloe Marine Corporation, part of Deep Sea Metro Ltd. The oil drilling sector is hit hard by the decrease of the oil prices, and is struggling to generate cash flow and keep vessels operational all year long. The judicial sale will take place in the session of the Court of First Instance of Curacao, to be held at Wilhelminaplein 4, Willemstad, Curaçao.

Practical information for those interested can be found here. The judicial sale was covered by Antilliaans Dagblad (Antilian Daily); the clipping can be downloaded here (in Dutch). Also, Amigoe published an article (in Dutch) about the decrease of the oil prices and its consequences for shipping sector.

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