Southern Star conducting SAT Diving operations in DP3 for Shelf Subsea Malaysia, January 2020

The CEO of Tasik Toba Subsea AS (Tasik) has described the award to his company of USD26.8 million as a ‘victory for the little guy’ and demanded that Fugro’s opposite number now publicly apologises for statements he made.

As stated in Fugro’s press release* issued on the 6th January 2020, Tasik was awarded the sum following an arbitration tribunal’s ruling that Fugro Singapore should not have terminated its charterparty for the DP3 diving support vessel, the Southern Star.

Following that ruling Tasik, which was formed for the sole purpose of building and owning the Southern Star, has today written to Fugro NV and its CEO, Mark Heine, to demand they both apologise and retract the ‘defamatory statements’ made previously in connection with the vessel.  These ‘defamatory statements’ are statements that would apply equally to numerous vessels in the global DSV fleet, including vessels that are still being operated by Fugro.

John Giddens, Tasik’s CEO, said. ‘This is a victory for the little guy who proved they wouldn’t be pushed around by the industry giant. We won’t be bullied by anyone and are delighted that the Southern Star is on hire, continuing day after day to do exactly what it was built to do, perform as an outstanding DP3 diving support vessel.

‘The press release from Fugro correctly stated that Tasik has been awarded USD26.8 million but it failed to mention that we have significant deferred claims against the Dutch company’s Singapore-based subsidiary, which dwarf the counterclaims to which Fugro has referred.  These claims are expected to be heard later this year and we’re demanding that Fugro issue balanced and accurate press releases (if any) in connection with our vessel in future.

‘It’s our considered opinion that Fugro’s briefings have flaunted its obligation of confidentiality in respect of the arbitration. There’s a lot we could and would like to say but we will continue to respect the confidentiality rules.’

*Fugro’s press release: