Icon Offshore sued by Labuan Shipyard & Engineering over PSV newbuilding

Malaysia’s Icon Offshore has announced that Labuan Shipyard & Engineering (LSE) filed a lawsuit against its wholly-owned subsidiary Icon Ship Management (ISM).

The suit arises from disputes in connection with an agreement signed in 2011 between ISM and LSE in relation to the construction of a PSV.

LSE is seeking RM13.94m ($3.36m) in outstanding claims consisting of costs allegedly incurred for the maintenance of the vessel, and that ISM had allegedly not made prompt and punctual payment of all milestone payments allegedly resulting in LSE incurring finance charges and interest charges.

Icon said a case management date for the suit has been fixed on July 5 in the High Court of Kuala Lumpur.

“Having received legal advice, ISM believes that there are good grounds to resist various claims made in the suit and will defend the suit. Messrs Skrine, advocates and solicitors, have been appointed to represent ISM in the suit and to take all necessary steps on behalf of ISM to defend the suit,” the company said in a release.

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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