Sealink seeking $5m over alleged breach of contract

Shipowner Sealink International has commenced arbitration against Boustead Penang Shipyard (BPS) in relation to a shipbuilding contract dispute, Seatrade Asia online reports.

Sealink and BPS had entered into a shipbuilding contract on 3 April 2008 to build two 7,000 dwt oil/chemical carriers.

Sealink is claiming $4.935m from BPS in alleged breach of the contract.

“Sealink Group may impair up to MYR1.3m for equipment deposits and interest capitalised to-date, in the financial quarter ended 31 December 2012 for the contract under dispute,” Sealink said in a statement.