Thursday, July 18, 2019

Cocaine Ship, MSC Gayane Released on USD 50 Mn Bond

This article refers to the ship's size as Neopanamx but we will be using Ultra Large Coke Carrirer, ULCC, not to be confused with the other type of ULCC*.
From World Maritime News:
U.S. authorities have released MSC Gayane, the ship caught with USD 1 billion worth of cocaine in Philadelphia, after a USD 50 million bond was posted.

Mediterranean Shipping Company has arranged payment of USD 10 million in cash and a USD 40 million surety bond less than a month after authorities seized the 2018-built Neopanamax with almost 20 tons of cocaine on board.

Gayane departed Philadelphia on July 13 to resume service. Latest AIS data indicates the ship is underway in the Atlantic Ocean, en route to Rotterdam, the Netherlands.

All cargo onboard MSC Gayane had already been shipped on to respective destinations.
United States Attorney for the Eastern District of Pennsylvania William McSwain earlier said the government could permanently seize the ship....MORE
Previously:
Update On JP Morgan's Cocaine Ship: The MSC Gayane May Not Belong to JP Morgan
MSC "Ship Seized In Record $1.3 Billion Cocaine Bust Belongs To JPMorgan"
Shipping: "Over $1 Billion Worth Of Cocaine Seized At Philadelphia Port, U.S. Attorney’s Office Says"  

*Now this ULCC would hold a lot of blow:

https://upload.wikimedia.org/wikipedia/en/d/da/Knock_Nevis.jpg
Built by Sumitomo
Capacity‎: ‎4,240,865 barrels o'crude.