safely anchored in international waters off the coast of India after sustaining a list on September 26.

Preliminary investigation showed that the list was caused by a shift in the vessel's cargo, MC Shipping president Mr. Guy Morel said.

The vessel did not sustain any serious damage and the crew now remains safely on board, he said.

The Indian Coast Guard and a European salvage company are currently discussing the release of the vessel, said Mr. Morel.

And the bareboat charterer is fully responsible for payment of the bareboat charter and for any repair costs, he said.

MC Shipping, based in Monaco, owns, operates and charters ocean-going dry cargo vessels.

Its fleet includes three feeder container ships, six multipurpose carriers and one bulk carrier.