EA Technique settles contract dispute with MHB

Malaysian offshore service provider EA Technique has entered into a settlement with Malaysia Marine and Heavy Engineering Bhd (MHB) over their dispute regarding a FSO conversion project.

EA Technique lost an arbitration with MHB in November last year and was instructed by the arbitration tribunal to pay MHB $29.52m plus interest.

Under the agreement, MHB has accepted $25.5m as full and final settlement between the parties.

EA Technique commissioned MHB to convert a vessel into an FSO, to be deployed in the North Malay Basin offshore Kelantan, in 2015 and the two parties had disputes in relation to additional work and variation orders under the contract.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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