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The Liberia national police and the Liberia maritime authority did not immediately respond to a call for comment. “Our best bet is that the vessel’s owner might have gone broke and had no money to pay crew members,” a source at the nation’s port authority told the Liberian Daily Observer. “And therefore, the crew abandoned the ship.”
After several days beached on the shoreline, the ship was reportedly looted and vandalized and speculation was rife that pirates or a fire had caused the crew to abandon the ship. Since investigation began, police have tried to keep civilians away from the ship. Although tankers were once prized by pirates off the African coasts, the long decline in oil prices combined with a sustained military campaign have reduced hijackings. Off west Africa, piracy has been largely held south of Liberia, in the waters off Nigeria and Ghana.
Farbric Radio reports that fishermen had spotted the vessel near the town of Taililor on Monday, and had not seen either crew or lifeboats aboard; the station said that she may have already been abandoned at the time she went aground.
The multi-agency investigation into the cause of the grounding continues, said police spokesman Sam Collins. In an entry updated in January 2016, Equasis lists her beneficial owner as Tamaya Shipping Offshore of Beirut, Lebanon, and her manager as SODATRA (Societe Dakaroise de Transit) of Dakar, Senegal. Her record of classification status on the registry dates to 2009, when it was listed as "Withdrawn" for reason of an overdue survey. Representatives for SODATRA and for Tamaya Shipping could not immediately be reached for comment.
I've read three articles about this and none of them mention whether or not the tanker is loaded with oil or not.
The Ministry of National Defense has now been onboard the 64 m long vessel and found much of the interior including the bridge and all documents were gutted by fire.
One of the two liferafts that the ship has was missing, adding to speculation that the ship’s owner abandoned the old unprofitable ship. Adding to this theory, the tanker’s classification was withdrawn as it was overdue for a survey.
Below is a list of depreciation policies adopted by certain listed tanker companies, for their tanker vessels (not FSO, FPSO, LNG vessels etc):
Useful life/Salvage value
Euronav: 20 years/0
Genmar: 25 years/$175 per lwt
Frontline: 25 years/$271 per lwt
Navios Acq:25 years/$275 per lwt
Tsakos: 25 years/$300 per lwt
OSG: 25 years/$300 per lwt
Teekay Corp: 25 years/NA
NAT: 25 years/$4 million per vessel (all double hull Suezmaxes, say 14,000 lwt)
Sovcomflot: 25 years/$490 per lwt
TCA's depreciation expense will be $30m annually over 20 years, reducing the book value of its vessels to zero. TCB's depreciation expense will be $20m annually over 25 years, reducing book value to $100m, which may or not be the scrap value at the time. All other things being equal, the difference is a $10m annual hit to the income statement of TCA
originally posted by: theantediluvian
a reply to: quercusrex
Why not just sell it or scrap it then? It's got to be worth more than they could possibly owe the crew in back pay.