News

Total Loss of one 17,224dwt Bulk Carrier,M.V. Beagle III

SEQ_NO
1
Date of announcement
2014/03/18
Time of announcement
17:02:54
Subject
Total Loss of one 17,224dwt Bulk Carrier,M.V. Beagle III
Date of events
2014/03/18
To which item it meets
article 2 paragraph 49
Statement
1.Date of occurrence of the event: 2014/03/18 2.Company name: Beagle Marine S.A. 3.Relationship to the Company (please enter "head office" or "subsidiaries"): Subsidiary 4.Reciprocal shareholding ratios: Wholly-owned 5.Name of the reporting media: Not Applicable 6.Content of the report: Not Applicable 7.Cause of occurrence: A 17,224 dwt bulk carrier, MV Beagle III, under Wisdom fleet sunk after collision with one South Korea registered container carrier, Pegasus Prime near Tokyo, Japan today. 8.Countermeasures: Announcment 9.Any other matters that need to be specified: 11 crew have been found and sent to hospital while the rescue operation is on-going. There was no Taiwanese crew on board. The insured value of the vessel is about 128% of her book value and is sufficient to cover asset loss and relevant expenses. There is no significant impact to finance and operation of the Company.