ECS group files court motion to terminate charter on affiliate's vessel

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.

On March 7, ECS and its affiliates filed a debtor's motion with the US bankruptcy court to reject certain contracts and unexpired leases including a bareboat charter dated Feb 19, 2014, on Lewek Champion.

In support of the motion, the court filing said the vessel is under arrest and the E…