• ITVI.USA
    15,433.470
    55.400
    0.4%
  • OTLT.USA
    2.727
    -0.016
    -0.6%
  • OTRI.USA
    20.850
    0.030
    0.1%
  • OTVI.USA
    15,408.360
    58.320
    0.4%
  • TSTOPVRPM.ATLPHL
    3.280
    -0.020
    -0.6%
  • TSTOPVRPM.CHIATL
    3.190
    0.050
    1.6%
  • TSTOPVRPM.DALLAX
    1.560
    -0.030
    -1.9%
  • TSTOPVRPM.LAXDAL
    3.420
    0.090
    2.7%
  • TSTOPVRPM.PHLCHI
    2.220
    0.050
    2.3%
  • TSTOPVRPM.LAXSEA
    4.080
    0.000
    0%
  • WAIT.USA
    126.000
    1.000
    0.8%
  • ITVI.USA
    15,433.470
    55.400
    0.4%
  • OTLT.USA
    2.727
    -0.016
    -0.6%
  • OTRI.USA
    20.850
    0.030
    0.1%
  • OTVI.USA
    15,408.360
    58.320
    0.4%
  • TSTOPVRPM.ATLPHL
    3.280
    -0.020
    -0.6%
  • TSTOPVRPM.CHIATL
    3.190
    0.050
    1.6%
  • TSTOPVRPM.DALLAX
    1.560
    -0.030
    -1.9%
  • TSTOPVRPM.LAXDAL
    3.420
    0.090
    2.7%
  • TSTOPVRPM.PHLCHI
    2.220
    0.050
    2.3%
  • TSTOPVRPM.LAXSEA
    4.080
    0.000
    0%
  • WAIT.USA
    126.000
    1.000
    0.8%
American ShipperShipping

Malaysian shipbuilder sues client over four unpaid vessels

Shin Yang Shipping Corp. Berhad’s wholly-owned subsidiary filed a claim against PT Gemilang Raya Maritime for failing to pay RM 6 million (U.S. $1.43 million) for four vessels it purchased from the company.

   Shin Yang Shipping Corp. Berhad, a Malaysia-based provider of shipbuilding and shipping services, revealed in a Sept. 18 Bursa Malaysia filing that its wholly-owned subsidiary, Shin Yang Shipping Sdn. Bhd. (the plaintiff), filed a claim against an Indonesian client, PT Gemilang Raya Maritime (the defendant), on Sept. 13 in the North Jakarta District Court at Central Jakarta for defaulting on vessel payments.
   The plaintiff sold and delivered four vessels to the defendant on Oct. 6, 2016, which was supposed to pay RM 6 million (U.S. $1.43 million) for the four vessels.
   However, the defendant did not comply to its legal obligation to make the necessary vessel payments in accordance to the Oct. 1, 2016 memorandum of agreement.
   The plaintiff sent two demand letters to the defendant – one on March 20 and the other on April 27 – but did not receive a response.
   The deal included two tugboats for RM 1.9 million each – the Danum 89, now named GRM Indramayu, and the Danum 95, now named GRM Asahan. The 2008-built Danum 89 and 2009-built Danum 95 were both contructed by Piasau Slipways of Miri, Malaysia, according to Maritime-Connector.
   The deal also included two barge ships for RM 1.1 million each – the Linau 51, now known as GRM Polewali, and the Linau 52, now known as GRM Sipirok – according to Shin Yang’s filing.

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