First Ocean: IRISL boxship evades pirates

IRISL First Ocean container ship, Maltese-flag, operated by the multinational V-ships, came under attack on Tuesday after several armed people on board three skiffs approached it at high speed, .

The Iranian warships patrolling the area made their way toward the cargo ship immediately upon a distress call coming from the ship that reported an unauthorized boarding attempt by a number of people.

Iranian Navy engaged in a fire fight. No injuries were reported.
In 2009 Hanjin delivered the first of the IRISL newbuildings, First Oceanbut then refused to hand over three sister vessels after failing to receive the balance of money owed amid speculation that the shipping line had been caught up in US sanctions against Iran that prevented US banks from participating in any financing. or suspected the market slump was squeezing IRISL’s financial resources and breached loan-to-value covenants.

As the deadlock dragged on in the summer, the three ships at the center of the dispute were put up for sale by Hanjin, and apparently attracted bids for as little as a quarter of the contracted price of around $100m apiece when the ships were ordered in 2006.

But that auction through ICAP Shipping was considered by some to be purely a legal technicality rather than a serious effort to sell the ships, with no offers accepted and talks continuing throughout with IRISL.

9349576 FIRST OCEAN 9HMV9 Container Ship 85896 2008

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