Crew Reviews, Ratings & Info for Viet-Thuan-Star

Hanoi – Vinalines, the prominent Vietnamese shipping company, is grappling with significant financial losses stemming from a payment disagreement with South Korean contractor SK E&C. The company’s vessel, the Vinalines Sky, a 43,000 dwt ship, has been held by SK E&C since mid-March. This situation arose following a ruling from the Vietnam International Arbitration Center (VIAC), mandating Vinalines to pay $6.37 million to the South Korean firm. SK E&C was engaged to supply steel piles for the extensively delayed Van Phong transshipment port project. However, Vinalines contested the quality of the supplied materials, asserting that they did not meet expected standards. Consequently, Vinalines refused to inspect the equipment or finalize the payment, leading to the current predicament. In light of these developments, Vinalines is actively pursuing avenues to recover its detained vessel. [21/04/14]

As of April 5, 2014, the cargo vessel 'Vinalines Sky' has been detained in Hong Kong due to an ongoing financial dispute. The vessel was held as the Korean company Vinalines pursued a claim for 47.93 billion VND (approximately $2.28 million) related to an arbitration ruling from Vietnam's International Arbitration Centre. This ruling mandated Vinalines to settle the payment for steel poles that were imported for the construction of an international port in central Vietnam. However, the enforcement of this ruling has been stalled by the Hanoi People's Court, following a complaint from Vinalines in January. The company contended that it disagreed with the quality and pricing of the steel. As it stands, the current status of the ship's detention remains uncertain.