Seamec Ltd. Involved in Arbitration with Jumbo Offshore Over Non-Payment of Fuel Supply

Seamec Ltd. has become a party to an arbitration filed by M/s Jumbo Offshore Enterprises regarding the vessel 'Tug Maria'. The dispute is about non-payment to a supplier for fuel supply. The supplier has arrested the vessel, but the company has already paid the supplier. However, the owner had to furnish a bank guarantee to release the vessel, which is now a matter of dispute in the arbitration. The expected financial implications include the bank guarantee, interest, and costs.