What Crew Members Say About Savanna

The 'Babylon,' which was seized on January 8 by Singapore's DBS Bank due to mortgage claims, has once again been unsuccessful in its recent auction bid. The significant discrepancy between the High Court of Singapore's price expectations and the offers from prospective buyers has stalled the sale during this second auction. Officials from the Sheriff of Singapore's office, which managed the sealed-bid process, reported receiving a decent volume of bids, yet none met the minimum reserve price set by the court. As of June 7, the vessel continues to remain idle at Singapore's East Anchorage.

On March 6, 2019, a Court Order was issued inviting bids for the purchase of the vessel 'Babylon', currently moored at Singapore East Anchorage since January 8. Interested buyers are encouraged to participate in this private treaty sale. Bids must be submitted in Singapore Dollars, along with a deposit of SGD 50,000, formatted as a local cashier’s order payable to 'The Sheriff Of Singapore'. All bids should be placed in a sealed envelope clearly labeled 'Tender for Babylon' and delivered to the Sheriff’s Office, Legal Registry, Level 2, 1 Supreme Court Lane, Singapore 178879. Bids must arrive by 1500 hours on May 27. Any bids submitted without the required deposit will be dismissed. Deposits from those who do not win the bid will be refunded. The sale of the vessel will be conducted on an 'as is where is' basis, following the Sheriff's established Terms and Conditions of Sale. Prospective bidders may request permission to inspect the vessel by contacting the Sheriff.

The oil tanker 'Babylon', which was arrested by the Singapore Supreme Court on January 8, 2019, is set to be auctioned off. Recent court-ordered inspections revealed that the vessel is structurally sound, in a usable condition, and has no major damages, making its estimated market value around USD 17 million. The auction will take place through a sealed bidding process, with submissions required at the Sheriff of Singapore's office by 3 p.m. on April 23, 2019. However, by the deadline of April 30, no bidders met the minimum reserve price established by the High Court of Singapore, leaving the future of the 'Babylon' uncertain as it awaits a new owner.