Sea Trucks Group Limited Addresses Media Reports on Vessel Arrest
Friday 15 January 2016
Sea Trucks sold a vessel under construction, the “Jascon 18”, to new owners, who are independent of Sea Trucks. These owners engaged Sea Trucks to complete construction of the Jascon 18.
On 7th January 2016, Jascon 18 was arrested on behalf of a shipyard in Singapore, which has been reported by some industry news media. This shipyard had worked on construction of the vessel until November 2015, at which point the vessel sailed following completion of the yard's work.
Sea Trucks considers the arrest to be without merit, having arisen out of a dispute between a Group subsidiary company and the shipyard. Sea Trucks is providing the vessel’s owners with its full support in seeking the vessel’s prompt release.
Sea Trucks will remain in close dialogue with its subcontractors to ensure the final completion works can be carried out on the vessel as soon as possible. This arrest in no way affects Sea Trucks’ ability to pay contractors.
Source: Sea Trucks Group Limited