Aquilo Shipping Inc v SRTT Marine Trading & Services Pte Ltd [2026] SGHC 79 (Justice Sushil Nair) - 10 April 2026

Arbitration - Provision of security - Interim relief - Construction of indemnity - Whether seller required to provide security where vessel arrested after sale - Balance of convenience

By a memorandum of agreement (MOA) dated 10 October 2024 Aquilo, a Liberian company, purchased the chemical tanker Vayu, registered under the flag of Liberia, from SRTT. The MOA was an amended version of Saleform 2012. Clause 16 of the MOA provided that the agreement should be governed by and construed in accordance with Singapore law.