In March 2013, a voyage charter party was entered between a Singaporean and an Indian company. Due to delay by the Indian company, the payment of freight and demurrage at the port of loading/unloading, under that charter party rose to the amount of 247,000USD. On 16^th September, the arbitration was brought before the London Court of International Arbitration by the Singaporean company in accordance with the charter party.

        On October 8, 2013, the Singaporean company applied before the Guangzhou Maritime Court for security of maritime claims, requesting for detention of MV/KIRAN, owned by the Indian company and moored at Port of Guangzhou, Guangdong, and providing the Court with a guarantee of 300,000USD. On 9^th October, Guangzhou Maritime Court detained MV/KIRAN in accordance of the law.

        As MV/KIRAN was detained, the Indian company actively negotiated with the Singaporean company. The day after the detention, the parties reached a reconciliation agreement regarding the compensation amount. The Singaporean company proceeded to withdraw its application for the London arbitration and applied to release MV/KIRAN. The Guangzhou Maritime Court has since released MV/KIRAN. The case of the dispute over the voyage charter party between the Singaporean company and the Indian company is now officially closed.