Singapore’s offshore vessel builder and charterer Otto Marine has started arbitration against its Mexican client over unpaid charter fees for the Oranda 1 offshore vessel.
Otto Marine said the arbitration proceedings were initiated by its subsidiary Karp Marine against the charterer Grupo Evya.
The vessel owner claims Grupo Evya has failed to pay hire and interest due amounting to $10.5 million, with the hire and interest continuing to accrue on an ongoing basis.
Singapore-based Otto Marine said it was working closely with its lawyers to enforce its rights under the contract, and safeguard as well as protect the interests and assets of the group.
Otto Marine seems to have problems with collecting the cash for its chartered vessels. Namely, the company last week launched arbitration against Vettal Mega Services, a provider offshore support services in Nigeria, over unpaid fees for two anchor handlers.
Offshore Energy Today Staff