News

  • Aug 3, 2017, 09:12

    Forland Inspector - Time charter

    Forland Subsea AS has entered a time charter party with a first-class client for the Forland Inspector (ex. Lewek Inspector). The vessel will be...

  • Aug 2, 2017, 09:56

    Contract termination

    Forland Subsea II AS, which bareboat charters the Fugro Saltire from E Forland AS, has received a notice of termination for convenience from time...

  • Jul 28, 2017, 20:22

    Flag / Name change - MV FORLAND INSPECTOR

    Flag change from Malta (Valletta) to Cyprus (Limassol) and Name change from ‘Lewek Inspector’ to ‘Forland Inspector’ was done during July...

  • Apr 21, 2017, 12:50

    Change of managers on Lewek Inspector

    Change of managers from Forland Shipping AS to OSM Offshore AS, was performed in Walvis Bay, Namibia on Friday 21. April 2017 at 12:00 hrs. GMT &...

  • Feb 20, 2017, 22:30

    Update Lewek Inspector

    Forland Subsea AS has entered into a time charter party with a major international contractor for the Lewek Inspector. The expected charter...

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Update Lewek Inspector

By Forland Shipping | Feb 20, 2017, 22:30

Forland Subsea AS has entered into a time charter party with a major international contractor for the Lewek Inspector. The expected charter period is about three weeks and the vessel will start working this week. 

In connection with the above, Forland Subsea and Emas AMC have entered into a stand-still agreement for the duration of the short- term charter. The stand-still agreement allows Forland Subsea to charter the Lewek Inspector without terminating the charter party with Emas AMC. Forland Subsea has reserved all of its rights under the Emas AMC charter party and will evaluate its options at the expiry of the stand-still agreement. In the meantime, the company continues to monitor the Emas Chiyoda situation closely. 

The obligations of Emas AMC are guaranteed by Ezra Holdings Limited, listed on the Singapore Stock Exchange. Forland Subsea has called on payment under the guarantee, however, no payments have been received to date. In response to the non-payment Forland Subsea served a Statutory Demand against Ezra Holdings Ltd in Singapore. If payment under the guarantee continues to be outstanding following the expiry of a three weeks' notice period, Forland Subsea may initiate winding-up procedures before the Singapore courts. 

Presently, it is uncertain whether payment under the guarantee will be made. 

For more details, contact:
Gunnar Chr Jansen, CFO Tel: +47 941 19 191

http://www.newsweb.no/newsweb/search.do?messageId=420667

 

Updated by Forland Shipping | Feb 20, 2017, 22:47