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    Otto Marine goes to arbitration - again

    Company News // August 11, 2016

    Otto Marine Limited says its subsidiaries Swordfish 5 Pte Ltd and GO Offshore Pty Ltd have each commenced arbitration proceedings under the London Maritime Arbitrators Association Terms 2012 against Vettal Mega Services Ltd in connection with bareboat charterparty contracts for Swordfish 5 and Go Enif.

    Among other things, Otto Marine says the charterer has failed to pay hire due and owing for an aggregate quantum in the region of US$6 million.

    The company is working closely with its lawyers in connection with the legal proceedings, to, inter alia, enforce the subsidiaries’ rights under the contracts, and safeguard as well as protect the interests and assets of the group.

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