All seem not to be well with one of the World’s Maritime Security giants Ambrey International as indications emerge that it’s partnership with Ambrey Nigeria one of its strongest business operational base in West Africa is about to collapse, and maybe over on account of breach of trust on the part of Ambrey International and mounting unpaid debts to its local partners for providing escort vessels, bunkers etc to support international their clients.
Ambrey International reputed for providing maritime security to shipping companies such as STENA, MSC, COSCO, FRONTLINE etc all over West Africa and has presence in Ghana, Togo, Republic of Benin, Cameroun etc is loosing its business base as local providers in Nigeria are especially unhappy with Ambrey International who have in the past few months altered the payment terms to over 60 days upon receipt of invoice whilst they charge international clients 50% upfront thereby delaying payments to local service providers after receiving payments from International shipping companies.
This 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. 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 etc.
Ambrey International has also severally been accused by local operators including MASPAN of unethical practices,including under pricing of services and deployment of sub standard vessels for escort services in Nigerian territorial waters.Tax evasion,and posing a threat to the National security of Nigeria by their involvement in issues of piracy and kidnap and ransome.
These difficulties of Ambrey International became noticeable after the failed merger and acquisition by Ocean Infinity which may have inflicted losses on the Ambrey group who now appear to be struggling with huge unpaid bills to contractors and providers in several countries in West Africa.
Attempts to reach Chris Charnley the M/D of Ambrey International were unsuccessful to confirm if this information filtering into the market is correct.
With this development, it is feared that Ambrey International maybe losing many of its clients who have noticed a drop in service delivery as service providers now prefer to divert their vessels to more serious Maritime Security Companies who meet up prompt payments.