GC Rieber Shipping resolves seismic vessel claim

GC Rieber Shipping resolves seismic vessel claim

Norwegian offshore shipowner GC Rieber Shipping has resolved a four years long dispute with Arrow Seismic Invest II over a seismic vessel claim stemming from June 2012.

In June 2012, GC Rieber Shipping’s subsidiary Armada Seismic Invest II AS received a claim from Arrow Seismic Invest II Limited (now: PGS Geophysical (UK) Limited) amounting to approximately 9 million euros.

In a statement on Thursday, GC Rieber Shipping said that after various delays due to procedural issues, “the dispute has now been adjudicated in the Bergen district court, which rendered its decision March 2 2016.

“The claim against Armada has been dismissed, and Armada has been awarded full legal fees in the amount of NOK 3.4 million. The decision may be appealed,” GC Rieber Shipping said in the statement.

Background

To remind, in its claim from June 2012, Arrow alleged that Armada acted negligently when the company took delivery of the seismic vessel hull 533, the Polar Duchess seismic vessel, in October 2011 and claimed 9 million euros in damages. The ship was built by the Factorias Vulcano shipyard in Spain.

Arrow, which at the time of delivery had a pending second priority attachment over the shipyard’s claim for payment, asserted that Armada’s payment was made to the wrong party when the first priority mortgagee was paid.

Following the claim, Armada said it had made the payment in good faith on basis of thorough documentation and in accordance with ordinary security law and said Arrow’s claim for damages was without merit.

Offshore Energy Today Staff

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Posted on March 3, 2016 with tags .

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