Nov 05, 2012 at 6:03pm

The Ghana Port and Harbours Authority (GPHA) is likely to move the seized Argentine ship from its current location, if the courts approve an order being sought by the authority to have the ship moved.

The Argentine ship has been in Ghana for more than a month in a row over a $300 million debt owed NML Capital, a subsidiary of US hedge fund Elliot Capital Management.

The GPHA has stated that the ship’s location currently at the Tema port is blocking commercial business.

Port authorities told Citi Business News, if the order is granted, the ship will be moved to a convenient location within Ghana. It’s unclear yet where it will be moved to but Citi Business News has gathered it may be may moved to another location within the Tema or Takoradi harbors.

The Director for the Ghana Ports and Harbours Authority, Ray Amanor told Citi Business News the court order is to ensure that the congestion being caused by the Argentine ship is addressed.

He said: “We are seeking a validation of a court order so that we can have the opportunity to move the ship to an area that will be convenient to the port; normally when your vessel is detained by the court, it gives us the flexibility to be able to move it to certain areas; the ship is currently occupying a fixed location at the port and therefore every day we have 16 to 18 vessels sitting outside.”

In a related development, a second application was filed by the Republic of Argentina seeking leave of the court to enter into conditional appearance in the substantive matter; this means Argentina has reservations on the substantive suit.

Last week, when the case was called, counsels representing both parties contended that they had not been served with the various applications.

The presiding judge, Justice Richard Agyei Frimpong said Argentina had not demonstrated the basis for which the injunction on the ship should be set aside.


By: Citifmonline.com/Ghana