Shin Yang Shipping sues Gemilang Raya Maritime for unpaid vessels

Malaysia’s shipbuilding and repair yard Shin Yang Shipping Corp has filed a lawsuit against Indonesia’s Gemilang Raya Maritime (GRM) for MYR6m ($1.5m) relating to the sale of four units of tugs and barges.

The legal suit was filed in the North Jakarta District Court at Central Jakarta.

Kuala Lumpur-listed Shin Yang Shipping said it has sold and completed the deliveries of two tugs and two barges to GRM in October 2016.

GRM, however, has failed to “make the necessary payments of the vessels” despite Shin Yang Shipping having sent two demand letters in March and April this year, Shin Yang Shipping announced, adding that GRM did not respond to any of the demand letters.

The MYR6m claims included the purchase price of MYR3.8m for two tugboats and MYR2.2m for two barges.

“The company believe that have good ground to the above claims and shall take all actions to make such claims. There shall be no impact on the company’s operations,” Shin Yang Shipping stated.

Posted 20 September 2017

© Copyright 2019 Seatrade (UBM (UK) Ltd). Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Seatrade.

Lee Hong Liang

Asia Correspondent

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