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Outstanding charter hire under the charterparty for “Lewek Inspector”

by December 19, 2016 General

MAS-AMC AS, the charterer of the vessel “Lewek Inspector” which is owned by Forland Subsea AS (a fully owned subsidiary of Frode Bjørn AS), has defaulted on payment of charter hire for October 2016, due for payment on 30 November 2016. In a meeting between representatives of the parties held on 15 December 2016, EMAS-AMC AS informed Forland that they are unable to settle the outstanding charter hire for the time being, due to financial distress.

FS Photo DPO Magnus Budge

EMAS-AMC AS’ obligations under the charterparty are guaranteed by Ezra Holdings Limited, listed on the Singapore Stock Exchange.

Forland will assess and explore the consequences of the payment default and the options available to it, including the remedies available to it under the charterparty.
Source: Forland Shipping