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Bumi Armada faces $31m claim

Bumi Armada said in a stock market announcement that one of its units is facing a claim of EUR28.5m ($31.1m) from SEA Srl over a service contract for post trenching and backfilling services.

Vincent Wee, Hong Kong and South East Asia Correspondent

May 26, 2015

1 Min Read
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Bumi Armada Caspian LLC has received the notice of arbitration for the 28 September 2012 contract for providing the services for the Filanosky field development project which was worth EUR16.2m.

“In the notice of arbitration, SEA Srl claimed approximately 28.5m euros against Bumi Armada Caspian under the service contract,” it said.

Bumi Armada said its unit has obtained the views of its legal counsel who considers that it has good prospects of success in defending the claim. No date has been set as yet for the arbitration hearing

About the Author

Vincent Wee

Hong Kong and South East Asia Correspondent

Vincent Wee is Seatrade's Hong Kong correspondent covering Hong Kong and South China while also making use of his Malay language skills to cover the Malaysia and Indonesia markets. He has gained a keen insight and extensive knowledge of the offshore oil and gas markets gleaned while covering major rig builders and offshore supply vessel providers.

Vincent has been a journalist for over 15 years, spending the bulk of his career with Singapore's biggest business daily the Business Times, and covering shipping and logistics since 2007. Prior to that he spent several years working for Brunei's main English language daily as well as various other trade publications.

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