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==Vessel arrested==
==Vessel arrested==


In October 2012, the vessel was seized in Ghana because of debts to [[NML Capital]], a subsidiary of US [[hedge fund]] [[Elliott Management Corporation]], one of Argentina's former creditors. Argentina's foreign ministry condemned the move, claiming it as "a stunt" pulled by "[[vulture funds]]" which contravenes the [[Geneva Convention]].<ref>http://internacional.elpais.com/internacional/2012/10/20/actualidad/1350761819_272282.html {{es icon}}
In early October 2012, the vessel was seized in Ghana because of debts to [[NML Capital]], a subsidiary of US [[hedge fund]] [[Elliott Management Corporation]], one of Argentina's former creditors. Argentina's foreign ministry condemned the move, claiming it as "a stunt" pulled by "[[vulture funds]]" which contravenes the [[Geneva Convention]].<ref>http://internacional.elpais.com/internacional/2012/10/20/actualidad/1350761819_272282.html {{es icon}}
: ''"...quienes no se someten a las leyes de ninguna jurisdicción..."'' - ''"who do not submit to the laws of any jurisdiction"''</ref>
: ''"...quienes no se someten a las leyes de ninguna jurisdicción..."'' - ''"who do not submit to the laws of any jurisdiction"''</ref>


Revision as of 10:45, 22 October 2012

History
Argentina
NameARA Libertad (Q-2)
OwnerArgentine Navy
Ordered11 December 1953
Launched30 May 1956
General characteristics
Displacement3,765 metric tonnes
Length103.75 metres hull 91.7 metres[1]
Beam14.31 metres
Draft6 metres
Propulsion2 × Sulzer diesel engine
Speed11.8 knots (21.9 km/h)
Complement24 officers, 187 crewmen, more than 150 cadets

ARA Libertad (Q-2) (MMSI: ; IMO: 6125398)[2] is a tall ship which serves as a school ship in the Argentine Navy. She was built in the 1950s at the Río Santiago Shipyard near La Plata, Argentina. Her maiden voyage was in 1962, and she continues to be a school ship with yearly instruction voyages for the graduating naval cadets.

Specifications

Her main characteristics are: Length (including bowsprit): 103.75m; Beam: 14.31m; Draft: 6.60m; Displacement: 3765 Tonnes; Masts: 3; Crew: 357 souls (including 150 naval cadets).

Rigging: Square rigged. Three masts (Fore, Main and Mizzen with boom) and bowsprit, with double topsails and 5 yardarms per mast, which can balance up to 45 degrees on each side. Five jibs are fixed to the bowsprit, the foremast has 5 square sails and two jibs, the mainmast has 5 square sails and 3 jibs and the mizzen has 5 square sails and a spanker. Sail area: 2.652 sq. metres; max. height of mainmast 56,2 metres.

Armament: Four Hotchkiss 47 mm cannons[3], 1891 model, which were transferred from the previous School Ship ARA Presidente Sarmiento and are used as a salute battery.

History

She won the Boston Teapot Trophy in 1966, 1976, 1981, 1987, 1992 and 1998

In 1966 she established the world record for transatlantic crossing (only sail navigation) between Cape Race (Canada) and Dursey Island (Ireland), 1,741.4 nautical miles (3,225.1 km) in 6 days and 4 hours. The Commander of the ship was Commander Ricardo Guillermo Franke, and the Boston Teapot was given away by Prince Philip, Duke of Edinburgh in name of Queen Elizabeth II.[citation needed]

She participated in the celebrations of the United States Bicentennial on July 4, 1976 by sailing in parade, with many other tall ships from all over the world, on the Hudson River, in front of New York City in what was called Operation Sail. Some spectators on the shores shunned the ship, as well as the Chilean Esmeralda, because these countries were dictatorships.[citation needed]

Mid-life overhaul

In April 2007 she underwent a general overhaul which includes the addition of facilities for female cadets and crew in line with current diversity policies in the Navy and the updating of the engines and navigation technology. During the year Libertad was under overhaul, Argentine cadets sailed on the Chilean Navy school ship Esmeralda (BE-43) [4]

Vessel arrested

In early October 2012, the vessel was seized in Ghana because of debts to NML Capital, a subsidiary of US hedge fund Elliott Management Corporation, one of Argentina's former creditors. Argentina's foreign ministry condemned the move, claiming it as "a stunt" pulled by "vulture funds" which contravenes the Geneva Convention.[5]

Argentina defaulted on more than $100bn (£62bn) of debt in 2001 and 2002, the biggest default in history. The majority of these loans were restructured in 2005 and 2010, giving creditors around 30% of their money back. Less than eight percent of creditors are pursuing the Argentine government through the courts in order to recover the full amount.[6][7][8]

  • In full sail
    In full sail
  • Anchored off the coast of Tybee Island, Georgia in July 1998
    Anchored off the coast of Tybee Island, Georgia in July 1998
  • Atlantic Ocean in May 2007
    Atlantic Ocean in May 2007
  • Detail of the bowsprit and the figurehead while docked at Mar del Plata naval base
    Detail of the bowsprit and the figurehead while docked at Mar del Plata naval base

See also

References

  1. ^ http://www.ara.mil.ar/poder_naval/buques_superficie/pnav_esp_buque_escuela.htm
  2. ^ http://www.shipspotting.com/gallery/photo.php?lid=1455586
  3. ^ Jane's Fighting Ships 2005-2006
  4. ^ Cadetes argentinos navegarán en la fragata chilena Esmeralda Template:Es
  5. ^ http://internacional.elpais.com/internacional/2012/10/20/actualidad/1350761819_272282.html Template:Es icon
    "...quienes no se someten a las leyes de ninguna jurisdicción..." - "who do not submit to the laws of any jurisdiction"
  6. ^ http://www.forbes.com/sites/afontevecchia/2012/10/05/the-real-story-behind-the-argentine-vessel-in-ghana-and-how-hedge-funds-tried-to-seize-the-presidential-plane/2/
  7. ^ http://www.bbc.co.uk/news/world-africa-19827562
  8. ^ Some Hedge Funds Only Seem Like Pirates—This One Actually Stole a Ship, Tim FernHolz, The Atlantic, 4th October 2012.

Bibliography

  • Guia de los buques de la Armada Argentina 2005-2006. Ignacio Amendolara Bourdette, ISBN 987-43-9400-5, Editor n/a. (Spanish/English text)
  • Libertad en el Mar - La reparación de media vida de la Fragata ARA Libertad. Armada Argentina, Author n/a, ISBN n/a, Editor n/a. (Spanish/English text)
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