Propel Shipping Pte Lts v. M v Peace Angel Imo No 9547790
Admiralty – Arrest and release of vessel
Case brief
What is this about?
Consensual release of arrested vessel M.V. Peace Angel (IMO No.9547790) upon bank guarantee-substitute cash security of USD 617,345.30 plus 12% p.a. interest till 05.08.2025, deposited to the credit of Commercial Admiralty Suit (L) No. 22746 of 2025 (Judge's Order (L) No. 22759 of 2025; Interim Applications (L) Nos. 23843 and 23771 of 2025). Keywords: admiralty arrest and release; Section 5(1) Admiralty (Jurisdiction and Settlement of Maritime Claims) Act, 2017; Propel Shipping Pte Limited (Plaintiff); Registered Owners' without-prejudice security offer; no caveat in Caveat Register; Prothonotary & Senior Master USD account; interest-bearing Fixed Deposit; Sheriff of Mumbai; Port and Customs Authorities, Mumbai Port; formal instrument of release dispensed with; Bombay High Court Commercial Division; Abhay Ahuja, J.; order dated 4 August 2025.
What did the court decide?
Release of the Defendant Vessel M.V. Peace Angel (IMO No.9547790) from the arrest of 23 July 2025, conditional on deposit of USD 617,345.30 with interest at 12% per annum till 5 August 2025 into the USD account of the Prothonotary & Senior Master, High Court, Bombay, to the credit of the Suit; formal instrument of Release dispensed with; deposit to be held in an interest-bearing Fixed Deposit; Sheriff of Mumbai directed to effect release and notify Port and Customs Authorities.