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Malaysia: PTP resolves counterparty claim over “Trident Star” fuel oil spill

08 Oct 2019

Malaysia-listed MMC Corporation Berhad (MMC) on Monday (7 October) said its 70% owned subsidiary, Pelabuhan Tanjung Pelepas Sdn Bhd (PTP) which is the operator of the Port of Tanjung Pelepas, has resolved the claim by settlement with counterparties over an earlier oil spill incident.

As such, it has discontinued the legal proceedings against Rising Star Shipping Sdn Bhd (RSS) and The Shipowners’ Mutual Protection and Indemnity Association (Luxembourg) Singapore Branch.

The RSS-owned MV Trident Star (IMO Number: 9062269) was loading a cargo of 2,500 metric tonnes of marine fuel oil while berthing alongside Berth No. 5 ATT Tanjung Bin Terminal on 24 August 2016.

However, an overflow from one of its tanks onto the upper deck of the vessel resulted into an oil spill spread affecting PTP’s premises causing oil pollution damage and losses for PTP. 

PTP was claiming a sum of US $7.61 million (Exact: RM 31,862,212.00) and other amounts including interest rates, costs and further reliefs.

RSS on 17 February 2017 obtained a declaration from the Kuala Lumpur High Court limiting its liability to the maximum amount of 4.51 million Special Drawing Rights (equivalent to approximately RM 25.0 million).

Any amount in excess of the fund will be claimed against the International Oil Pollution Compensation Fund in London.

The withdrawal of the legal proceedings is not expected to have any significant financial and operational impact on the MMC Group for the financial year ending 31 December 2019.

Photo credit: MarineTraffic / M.L. Jacobs
Published: 8 October, 2019

 

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