POSH Takes Makamin to Court over Charter Fees

Offshore support vessels operator POSH Semco, a wholly-owned subsidiary of PACC Offshore Services Holdings (POSH), has launched legal action against Makamin Offshore Saudi (MOS) related to owed charter fees for three vessels.

The company is claiming a sum of SAR 24.4 million (USD 6.5 million) due from Makamin for the charters as well as charges for meals and accommodation and interest charges.

Additionally, the company initiated the process of serving court papers on Makamin “in relation to an application for a court order in the Kingdom of Saudi Arabia to compel Makamin to carry out their agreement to novate their sub-charters for two of the vessels to the group’s nominee,” POSH said in a statement.

POSH said it also served a notice to withdraw the third vessel from Makamin’s service, adding that it has the right to terminate the charter contracts for the three ships.