Fugro makes clarification with regard to Southern Star

In response to a number of press articles which have been published in relation to a recent decision in the arbitration between Tasik Toba Subsea AS and Fugro Singapore Marine Pte Ltd in relation to the terminated charter of the MV Southern Star in March 2019, we wish to make the following clarification.

Leidschendam, the Netherlands

27 Jan 2020

The grounds which Fugro advanced as their reasons for terminating the Charterparty of the Southern Star, these being serious technical failures and design flaws in the Southern Star, were not accepted by the arbitration tribunal as adequate grounds for termination and are thus retracted.