Tasik Subsea hails Fugro arbitration award as a ‘victory for the little guy’

John Giddens, the CEO of Tasik Toba Subsea, has described a $26.8m arbitration award from Fugro as a ‘victory for the little guy’ and further demanded that Fugro publicly apologises for statements made regarding the case.

As reported by Splash yesterday, Fugro announced that an arbitration tribunal ruled that it should not have terminated a six-year charter for diving support vessel Southern Star.

Tasik has followed up yesterday’s release from Fugro by writing to Fugro CEO Mark Heine demanding an apology and retraction of what it says were defamatory statements made regarding the vessel. Fugro cited technical failures and design flaws as the reason for cancellation.

“This is a victory for the little guy who proved they wouldn’t be pushed around by the industry giant. We won’t be bullied by anyone and are delighted that the Southern Star is on hire, continuing day after day to do exactly what it was built to do, perform as an outstanding DP3 diving support vessel,” Giddens stated.

Revealing that the company still has further claims against Fugro, Giddens said: “The press release from Fugro correctly stated that Tasik has been awarded $26.8m but it failed to mention that we have significant deferred claims against the Dutch company’s Singapore-based subsidiary, which dwarf the counterclaims to which Fugro has referred. These claims are expected to be heard later this year and we’re demanding that Fugro issue balanced and accurate press releases – if any – in connection with our vessel in future.

“It’s our considered opinion that Fugro’s briefings have flaunted its obligation of confidentiality in respect of the arbitration. There’s a lot we could and would like to say but we will continue to respect the confidentiality rule.”

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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