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Makamin and POSH dispute escalates

Makamin and POSH dispute escalates
Singapore-listed PACC Offshore Services has announced that Saudi Arabia-based Makamin Offshore is claiming SAR220m ($58.6m) in alleged damages against a subsidiary of the company under a legal dispute between the two companies.

Makamin is claiming SAR100m as compensation for loss of charter contracts with Saudi Aramco and SAR30m for the expenses paid to bring and operate three vessels and SAR90m for loss of profit arising from a ban imposed on the company from working with Aramco for the next two years at a minimum.

POSH Semco filed a lawsuit against Makamin in Saudi Arabia in March in order to recover around SAR24.4m ($6.6m) in unpaid charter hire and expenses.

source: splash247

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