BH Global Recovers Vessels Seized from its Batam Yard
Singapore-listed BH Global Corporation Limited reported that its Board of Directors (the Board) has been informed that the two vessels which were forcefully removed July 14 from the shipyard belonging to its Subsidiary, PT BH Marine & Offshore Engineering (the Subsidiary), have since been successfully retrieved by the Indonesian Navy and handed over to the Batam Police. Both vessels are currently docked and guarded at the Marine Police Base in Sekupang, Batam, Indonesia pending the outcome of the investigations.
The Subsidiary has sent its staff to assess the condition of both vessels and the Company understands that there are reportedly no damages caused. It is therefore unlikely that the Company will incur any losses as a result of the incident.
The Batam Police is still investigating into the matter to ascertain the party (or parties) responsible for the incident.
The Board will provide further updates when available.
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