Vallianz Criticised for Crew Neglect
The distressed Singapore offshore player Vallianz Holdings has come under criticism for treatment of its crew members.
It has been reported that the Swiber Explorer, a vessel belonging to subsidiary Vallianz Offshore Marine, has been stuck in a limbo off Dubai for weeks with circumstances onboard deteriorating and the crew allegedly are owed considerable back pay. The images taken aboard the ship show crew members asking for help to the Indonesian President Joko Widodo.
The Vallianz, a Singapore-based company has been facing offshore downturn with its stock trading at just 1.8 Singapore cents, down from more than 5 cents at the start of the year. Swiber Holdings, which sought judicial management this summer in Singapore, has pledged its 25% stake in Vallianz to lead creditor DBS, adding further uncertainty to Vallianz’s future.
A source commented: “I think the bondholders and shareholders should know of this plight lest it becomes another Swiber, crashing without notice.” The source questioned how Vallianz could pay back imminent bonds if it was struggling to pay its crew.
The Vallianz has responded to inquiries from various sources with the following statement: “Vallianz provides ship management services for the vessel Swiber Explorer which is now owned by a third-party. The company is aware of the situation faced by the crew on Swiber Explorer and has been making every effort to work with the vessel’s owner to ensure that the crew’s salaries are brought up to date. In fact, the company has already fully settled the salaries of the crew up till August 2016. Vallianz is presently in the process of arranging payment of the salaries for the month of September 2016 and expects the crew to be paid within the next two weeks.”
With the recent rise in cases of crew abandonment, Arthur Bowring, the managing director of the Hong Kong Shipowners Association (HKSOA) has commented that owners who abandon their crew members should be banned from owning ships forever.
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Source: Indoseafarer
