MV Niuvakai on sale due to no income
Radio & TV Tonga, Nuku’alofa, 26/06/2019
Friendly Island Shipping Agency or FISA’s board of directors has ordered to sell one of the company’s property – the MV Niuvakai due to no income generated from it.
The MV Niuvakai was purchased by FISA from the Pacific Royale Shipping company in February 2014 – with an amount that was very high compared to the standard of the vessel.
Pacific Royale Shipping sold MV Niuvakai to (FISA) for NZ$936,500 which is equivalent to about 1 million pa’anga. After FISA bought the vessel they upgraded it and three years NZ Marine Brokers inspected and evaluated the MV Niuvakai as worth $350,000 NZD.
After investigating the issue by the Ombudsman after it was raised by Kele’a newspaper, Ombudsman held the opinion that FISA board had failed to conduct a proper evaluation of the 35 year old vessel despite a criteria assessment report by FISA Board Chairperson and a survey report made by a marine cargo surveyor and assessor Dunsford Marine.
Taking into account the survey report by Dunsford, and the Criteria Assessment, the vessel’s true value should have been significantly lower.
According to a reliable source the MV Niuvakai was first advertised to the Ezy World Cargo Services Company but they didn’t buy it due to the vessel’s standard as they are going to do so much upgrade to the vessel before using it.
The company also wrote to the then government and told them – the prize for the MV Niuvakai is really high – but the government still went ahead with purchasing of the vessel.
Radio and Television Tonga is still trying to contact a board member or anyone from the then government for a comment on the issue.
© Radio and Television Tonga New