Custom seizes Greece flagged ship at Alang for undervaluation | mumbai | Hindustan Times
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Custom seizes Greece flagged ship at Alang for undervaluation

mumbai Updated: Sep 16, 2011 16:02 IST

PTI
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A Greece flagged ship, coming from Singapore to the ship breaking yard at Alang here for dismantling, was seized today by customs sleuths for allegedly misdeclaring its value.

"A made in China ship -- Syros -- bearing the flag of Greece, which had come from Singapore to Alang has been seized under the Customs Act for misdeclaration of value. The vessel was purchased by Bansal International Ltd here," a customs official told PTI.

"The price of the vessel has been undervalued in the bill of entry to evade customs duty," he said. "Customs sleuths have contended that declaration of over USD 500 per DWT as price of the vessel by the buyer was undervalued," the official said.

The vessel of around 12,232 DWT (Dead Weight Tonnes) was docked recently on plot number one of the Alang ship breaking yard, the largest ship breaking yard in Asia.