Offshore Shipping Online

A publication for the offshore shipping industry published by Clarkson Research

  • Offshore Intelligence Monthly
  • Menu

    Torch terminates Midnight Hunter

    News // February 14, 2003
    Torch Offshore has announced that its wholly-owned subsidiary Torch Offshore has terminated the three-year bareboat charter of the Midnight Hunter from Cable Shipping Inc, because of the failure of the vessel to meet certain specifications as outlined inthe charter agreement.

    In connection with the termination of the charter agreement, the company's subsidiary has filed suit in the US District Court for the Eastern District of Louisiana. This suit sought an order, which has been granted by the court, attaching the Midnight Hunter as security for the company's claims related to the termination of the charter agreement.

    Torch Offshore Chairman and CEO Lyle G Stockstill, commented, "It is unfortunate that the Midnight Hunter does not meet the specifications as marketed to us and stated in the charter agreement, which we relied upon. We were looking forward to working thevessel in our deepwater fleet. It is a surprising situation for the company but one that will not stop our progression into the deepwater."

    More articles from this category

    More news