EMAS Offshore says Malaysian subsidiary hit with termination of 3 bareboat charter agreements

SINGAPORE (Dec 6): EMAS Offshore, which has filed for bankruptcy in the US and started restructuring proceedings, has announced the termination of three bareboat charter agreements by the owners of three vessels.

The vessels were Lewek Ariel, Lewek Lynx and Lewek Alkaid. The agreements were signed between EMAS Offshore (M) Sdn Bhd (EMM) with owners Morganite Shipping, Marina Moss Shipping and Marina Tanzanite Shipping respectively.

EMAS Offshore, the debt-ridden offshore support vessel owner-operator, reported on Oct 30 its net liability position stood at US$910 million ($1.2 billion). Trading of shares in EMAS Offshore have been suspended.

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