Maersk Tankers Singapore applies for USD 41 million court injunction against Winson Oil Trading
A meeting between lawyers representing Maersk Tankers Singapore Pte Ltd (Maersk Tankers, the Plaintiff), in the business of owning, chartering, managing and operating vessels, and energy trading and bunkering firm Winson Oil Trading Pte Ltd (Winson Oil, the Defendant) was scheduled at the High Court of the Republic of Singapore on 28 June.
Maersk Tankers will be submitting an application for an
injunction to the court; it is seeking to obtain securities from Winson Oil in
order to prevent having the Maersk Princess arrested by United Overseas Bank
Limited (UOB), according to court documents obtained by Singapore bunkering
publication Manifold Times.
To satisfy the injunction, Winson Oil can either pay USD 41
million (exact: USD 40,924,816.13) directly to the court or have the similar
figure paid directly to Maersk Tankers in a bank guarantee which will then be
furnished to UOB.
Timeline of Events
Court documents showed Winson Oil chartering the Maersk
Princess from Maersk Tankers for the carriage of gasoil (cargo) totalling
100,021.642 metric tonnes (mt) from Taiwan to Singapore on 10 February 2020 for
four oil companies.
The cargo was later discharged at Universal Terminal without
presentation of the original bills of lading to the receivers Hin Leong Trading
(Pte) Ltd on 28 February 2020; Maersk Tankers received a letter of indemnity
for non-presentation (LOI) from Winson Oil for the discharge operation.
On 18 February 2021, UOB issued a letter of demand to Maersk
Tankers claiming it was the lawful owner of a portion [87,683.51 mt] of the
gasoil cargo; the bank on the same day further commenced admiralty proceedings
against 40 of Maersk Tankers’ ships for the alleged misdelivery of the cargo
and informed it may take action against the vessels – unless security is
provided.
“Despite the Plaintiff’s reminders and demands, and in
breach of Clause 3 of the LOI, the Defendant has to-date failed, refused and/or
neglected to furnish the necessary security to UOB for UOB’s Claim to prevent
the arrest of the MTS Vessels,” stated Maersk Tankers in the court document.
“Further and/or alternatively, by Clause 5 of the LOI, the
Defendant was required expressly and/or impliedly to retrieve the original
Bills for delivery to the Plaintiff.
“In breach of Clause 5 of the LOI, the Defendant failed,
refused and/or neglected to locate and/or produce the original Bills to the
Plaintiff.”
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