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POSH starts legal suit against Makamin Offshore over unpaid charter fees

A wholly-owned subsidiary of PACC Offshore Services Holdings (POSH) has commenced legal action in Saudi Arabia against Makamin Offshore over owed charter fees of three vessels.

POSH subsidiary POSH Semco is claiming approximately $6.6m due and owed by Makamin Offshore for the vessels’ charter hire, as well as charges for meals and accommodation and interests in relation to the time charters of the vessels.

“The group has on 21 March 2016 also initiated the process of serving court papers on Makamin (Offshore) 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,” POSH stated.

“The group has also 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,” it added.

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