Singapore-based Tasik Toba Subsea CEO John Giddens has described the arbitration award made in favour of his company as a ‘victory for the little guy’ but has also lashed out against former client Fugro for what he claims are misleading statements.
Fugro was told to pay Tasik $26.8m by a tribunal that determined the Dutch contractor should not have terminated its charter of the 4,500-dwt diving support vessel Southern Star (built 2017) in March 2019, just 22 months into a six-year contract.
