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    Otto Marine takes action against Robert Knutzen Shipholdings Ltd

    Company News // August 5, 2016

    Referring to an earlier announcement, Otto Marine Limited has announced that through its lawyers, Rajah & Tann Singapore LLP, it has commenced arbitration against Robert Knutzen Shipholdings Ltd (RKSL) under two bareboat charterparties dated 15 January 2009 entered into between the company and RKSL in respect of two of the group’s vessels. 

    "RKSL had taken delivery of and operated the said vessels and was obliged to pay charter hire in respect of the relevant vessels," said Otto Marine in a statement. "RKSL has been in default of the charterparties for an aggregate principal outstanding sum of US$2,834,471.56 plus the applicable interest for overdue payment. Mr Robert Knutzen is the personal guarantor of the obligations of RKSL under the charterparties."

    The company said it is working closely with its lawyers to take all necessary actions, including but not limited to progressing the said arbitrations and enforcing any arbitral awards against Mr Robert Knutzen as personal guarantor so as to safeguard as well as protect the interests and assets of the group.

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