I refer to Vallianz' s non-payment over crew.

 

1. As shipmanagers, Vallianz is liable for payment at law. The very fact that Vallianz had made payment towards the crew goes to show that they accet liability. It seems however that they have confused the public with the notion that Swiber or Sentosa as owners of the vessel are liable for the debt. Vallianz could have terminated the ship-management contract at any point of time. As you will be aware, shipmanagement contracts are not on a pay-when-paid basis. Vallianz therefore could not rely on the fact that if they were not paid by Swiber, they will not pay the crew.

2. From the article in Splash, it seems that the monies were in arrears since June, 4 months of non-payment over crew.  In Vallianz' s initial reply to Splash, they have replied that they have made payment up until the month of August. Following Splash' s check with the crew, they have confirmed that monies have not been paid. It is only then that Vallianz stated in their update that ' the payment for August will come through through in the next 2 days.' This is a blatant lie by the management.

3. In the same Splash article, Vallianz first announced that they will make good the remaining payment in a few weeks time. Nobody knows when is their ' few weeks time' .  They have now made an update and confirmed that payment will be made in within the week. It goes to show how ' regrettable' they feel, that only when pressed are they willing to  effect payment.

4. If a listed company is unable to pay crew,  I think they should have informed public earlier, not until the crew starts posting online.

5.  Vallianz " deeply regrets the current situation faced by the crew and is making every effort to help them." Are they helping themselves or are they helping the crew. This is lamentable.

6.  Vallianz also  wants to assure shareholders that its vessel chartering business operations are continuing as usual. This is funny. It is evident that they are in financial straits, messing with Swiber,  being unable to pay crew and vessels are detained. How do they continue business operations with the vessels detained.