Punj barge fight with Sino Ling Tao

Vol 17, PW 11 (16 Jan 14) News in Brief
     

Punj Lloyd was relieved last month when the Mumbai High Court reversed an order ‘arresting’ barge Kuber for alleged non-payment to Singapore-based Sino Ling Tao (SLT) Resources.

SLT claims Punj owes it $1.76m for the hire of anchor handling vessel Star Apollo for 12 months from November 2012 to provide support services to its pipe-laying and hook up barges offshore Mumbai. “During the hire period Apollo had operational problems," says Punj.

"We suffered financial losses because the vessel could not be effectively utilised.” Punj on November 9, 2013, claimed $27.5m as damages from SLT.

“But instead of compensating us,” adds Punj, “SLT obtained an 'ex-parte' order (on December 3) for the arrest of our barge Kuber until they were paid.” On December 12 the Mumbai High Court released Kuber against a bank guarantee of $1.76m until the dispute is finally resolved.