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Custom seizes Greece flagged ship at Alang for undervaluation

Bhavnagar, Sep 16 (PTI) Customs sleuths today seized a Greece flagged ship coming from Singapore to the ship breaking yard at Alang here for dismantling, allegedly for
misdeclaration of 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. The vessel of around 12,232 DWT was docked recently on plot no. 1 of the Alang ship breaking yard, the largest ship breaking yard in Asia.

"Customs sleuths have contended that declaration of over USD 500 per DWT as price of the vessel by the buyer was undervalued," official sources said.

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