Otto Marine unit effects vessel's arrest for outstanding ship-repair claims

OTTO Marine said before trading started on Monday that its Batam-based shipyard subsidiary, PT Batamec, has commenced proceedings in the High Court of Singapore against and caused the arrest of the vessel Ratina Blessing.

The vessel is registered under RS Marine Investments Pte Ltd, a company owned by Rakesh Shankarlal Tulshyan.

Otto Marine said the vessel was arrested for monies owed by RS Marine towards unpaid ship repair-related charges.

PT Batamec had rendered repair services at its yard in Batam to the vessel between Dec 13, 2015, and March 21, 2016. The yard subsidiary has received partial payments for its services but various outstanding charges remained. Otto Marine said RS Marine Investments had failed to pay the remaining charges despite reminders.

Both PT Batamec and the management of the company are working closely with the group's lawyers to take all necessary actions to enforce PT Batamec's rights against the vessel as well as protect the interests and assets of the group.