TRUE CONRAD

* We have received reports that bulk carrier TRUE CONRAD ran aground in a position east of Ilha Grande Island, Brazil on 11 May 2023.

* It is reported that a tug has been deployed to assist to refloat the vessel but that the vessel currently remains aground.

* Reports indicate that the current condition of the vessel is down by the stern with a slight list to starboard.

* It is possible that General Average/Salvage and associated recovery issues may arise as a result of this casualty.

* We therefore recommend that you contact us if you are concerned with any cargo on board this vessel so that we can immediately start taking steps to protect your interests.