Malaysia’s shipbuilding and repair yard Shin Yang Shipping Corp has filed a lawsuit against Indonesia’s Gemilang Raya Maritime (GRM) for MYR6m ($1.5m) relating to the sale of four units of tugs and barges. The legal suit was filed in the North Jakarta District Court at Central Jakarta. Kuala Lumpur-listed Shin Yang Shipping said it has sold and completed the deliveries of two tugs and two barges to GRM in October 2016. GRM, however, has failed to “make the necessary payments of the vessels” despite Shin Yang Shipping having sent two demand letters in March and April this year, Shin Yang Shipping announced.
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