Main Menu

Credit Corp repossesses landing crafts

CREDIT Corporation (SI) Ltd has repossessed two landing crafts once owned by Blue Ocean Shipping Co Ltd, a move that could undermine Peter Boyers’ credibility as a fit and proper person to remain Chairman of the Solomon Islands National Provident Fund (SINPF).

Mr Boyers is a director of Blue Ocean Shipping Co Ltd.

Observers said pressure would be on the Minister of Finance and Treasury, Hon Snyder Rini, to revisit the issue of SINPF chairmanship.

Mr Rini is still in Sydney for medical check-up at the St Vincent’s Hospital.

Central to the question is whether he (Mr Boyers) is a proper and fit person to remain chairman of the SINPF, a people’s trust fund.

“Sometimes soon he will have to revisit that question,” one observer said.

A former finance Minister, Mr Boyers is also the President of the Kadere Party, a coalition partner in the DCC Government.

A Credit Corporation spokesman told Island Sun yesterday the company had decided to repossess and sell the landing crafts because no repayments were coming through since 2015.

LC Dragon and LC Phoenix were advertised in both dailies for sale by public tender “On As Is Where Is Basis” this week. They were made in South Korea, LC Dragon in 1993 and LC Phoenix in 1989.

The spokesman said one of the ships (craft) have had its propeller damaged during the flash flooding of 2014.

“We have decided that it is in the best interest of the parties that both landing craft be repossessed and sold on public tender on as is where is basis,” the spokesman said.

Tenders for both landing crafts are due to close on June 26, 2017.