Karadeniz battles Pakistan's ship seizures

摘要

Turkish conglomerate Karadeniz is bracing for another long wait for the return of one of its trademark 'power' ships and two technical support vessels, held in Pakistan for the past 36 months. A dispute between the group and Pakistani authorities, about the offshore power contract for which the ships were sourced, promises to continue despite the recent release of one of the four vessels originally detained. The 1983-built,41,521gt Kaya Bey was released in early August on the orders of the International Centre for Settlement of Investment Disputes (ICSID) but, at the time of writing, Pakistan had given no indication it would return the three other vessels. The Kaya Bey and still detained Alican Bey, equipped with power-generation capacity, were engaged to supply electric power to Karachi, which suffers from frequent power cuts.