POSH takes Makamin to court

Singapore’s offshore ship owner PACC Offshore Services, aka POSH, has sued a Saudi client seeking a $6.6 million sum.

POSH on Monday said the company started legal action against Makamin Offshore Saudi, to recover approximately SAR24.4 million (approximately US$6.6 million) the Saudi operator owes.

According to the shipowner which has vessels under contract with Makamin, the Saudi company owes the cash for, inter alia, “the charter hire of three vessels owned by the group, charges for meals and accommodation and interest charges on the amount owing in relation to the time charters of the vessels.”

The Singapore-based POSH has on March 21, 2016 also started 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.

Furthermore, POSH has has served on Makamin a notice to withdraw one of the vessels and will be suspending performance of that Charter Party pending withdrawal of the vessel.

“The Company has the right to terminate the remaining Charter Parties. Further announcements will be made by the Company as and when appropriate,” POSH said.