Forland, EMAS-AMC reach deal for Lewek Inspector vessel

Offshore vessel owner Forland Shipping has reached a deal with EMAS AMC over its Lewek Inspector vessel.

To remind, EMAS AMC has defaulted on the charter hire payment for Forland’s Lewek Inspector vessel for October 2016, and has said it would be “unable to settle the outstanding charter hire for the time being, due to financial distress.”

Forland last week said it would assess and explore the consequences of the payment default and the options available to it, including the remedies available to it under the charterparty.

The company on Monday said it reached a temporary agreement with EMAS-AMC. Under the agreement, the Lewek Inspector will complete its ongoing project offshore Congo, currently expected to be completed in January 2017.

Forland did not say whether the new deal includes EMAS AMC paying any fee for the charter.

To remind, the shipowner last week noted that EMAS-AMC AS’ obligations under the charterparty are guaranteed by Singapore-listed Ezra Holdings Limited, which is a parent company of EMAS AMC.

Offshore Energy Today Staff

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