ECS group files court motion to terminate charter on affiliate's vessel
It says vessel is under arrest and it's unable to determine how long that will last
Singapore
EMAS Chiyoda Subsea has filed a debtor's motion with the US bankruptcy court to reject what remains of a 10-year bareboat charter on Lewek Champion, a vessel in Emas Offshore Limited's operating fleet.
The move is likely to put pressure on Emas Offshore Limited to secure a replacement charter for Lewek Champion to service the outstanding financial obligations tied to a sale and leaseback deal for the vessel.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
J&J advances US$6.48 billion settlement of talc cancer lawsuits
US holds quarterly debt sale steady, starts buybacks this month
US dollar nears six-month high after pre-Fed data shock, yen steady
KFC parent Yum reports surprise drop in global same-store sales on weak demand
Pfizer lifts 2024 profit view on cost cuts, higher Covid vaccine demand
Shell exits China power market businesses