Singapore’s Emas Offshore, an offshore services provider held by Ezra, has received a notice from Marina Aquata Shipping to terminate the bareboat charter for one of its leased platform supply vessels (PSVs).
Emas Offshore said on Thursday that Marina Aquata Shipping terminated the bareboat charter of the Lewek Avior PSV.
The company added that the original contract was signed in April 2011 with Ezra Holdings being the guarantor.
The charter was terminated due to various termination events and breaches of material obligations which Marina Aquata alleged were caused by Emas Offshore and Ezra and were still continuing.
According to Emas, Marina Aquata Shipping has demanded reimbursement of all losses regarding the charter of the Lewek Avior.
Both Emas Offshore and Ezra are currently seeking legal advice and assessing the impact of the charter termination.
It is also worth mentioning that Marina Aquata Shipping is a special purpose vehicle (SPV) company of Standard Chartered.
In December 2017, three other SPV companies of Standard Chartered terminated charters for three Emas Offshore vessels.
Namely, Marina Morganite Shipping, Marina Moss Shipping, and Marina Tanzanite Shipping terminated the charters of the Lewek Ariel, the Lewek Lynx, and the Lewek Alkaid. The charters for the vessels were dated 2011, 2014, and 2011, respectively.
Source: Offshore Energy Today