Mounting Debts Threaten Maritime Security

There are indications that the peaceful relationship between Ambrey International, one of the world’s leading maritime security giants and its Nigerian partners, may soon collapse.

The development, LEADERSHIP gathered may not be unconnected with an alleged account of breach of trust on the part of the maritime security giants as well as mounting unpaid debts to its local partners for providing escort vessels, bunkers and others, to support international their clients.

Ambrey International, reputed for providing maritime security to shipping companies such as Stena, MSC, Cosco, Frontline and others, all over West Africa, has presence in Ghana, Togo, Republic of Benin, Cameroun and other West African countries.

LEADERSHIP gathered that the firm is losing its business base as local providers in Nigeria are especially unhappy with it for altering payments terms to over 60 days in the past few months upon receipt of invoice whilst they charge international clients 50 per cent upfront thereby delaying payments to local service providers after receiving payments from international shipping companies.

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It was also gathered that the mounting debts have also not spared their local partners that are the backbone of Ambrey operations in Nigeria and who have been financing the business for Ambrey in the past five years.

It was also gathered that the debts to one particular client runs into several millions of dollars besides several millions of dollars owed to other providers including bunker suppliers, security vessel providers, port services and others.

LEADERSHIP gathered that Ambrey International has also severally been accused by local operators including MASPAN of unethical practices, including underpricing of services and deployment of substandard vessels for escort services in Nigerian territorial waters.

However, efforts made by our reporter to get the reaction of the managing director of Ambrey International, Chris Charnley, proved abortive.