Aluminium fast ferry builder Wavemaster International has been served with more than $134,000 in writs from creditors in the past month.
The largest claims against the Malaysian-owned Wavemaster are from Lloyds Register Quality Assurance, claiming $54,686, and Onesteel Trading, which is seeking $44,637.
Wavemaster recently settled a $3,100.46 claim from Brambles Australia and a $9,734.54 claim from Elle Holdings.
Wavemaster has also been ordered by the court to pay Busby Investments $377.44.
A representative of the shipbuilder said Wavemaster’s policy was to refuse to give interviews unless “the company had something to release”.
It’s understood all the writs relate to non-payment of accounts.
Formet Metalform director John Birkett said his company had been chasing a debt of $995.50 for rope products since October last year.
Mr Birkett said his company had dealt with Wavemaster off and on for four or five years.
“Every time we’ve dealt with them we’ve had problems getting money but this was by far the worst,” he said.
Other creditors are: CDM Electrical Contractors ($6,181.55), Flashlane Pty Ltd ($6,989.19), Alert Taggin Systems ($4,425.30), Sika Australia ($4,494.14), and Hankar Nominees ($11,754.71).
Sika Australia’s Hugh McCook said the writ had been filed because Wavemaster “haven’t paid their bill”.
The company supplied consumables to Wavemaster’s Henderson yard.
Mr McCook said boat builders were often a problem for being tardy with their payments, largely due to the cash-flow problems endemic with the industry.
“When you tie that much up in building boats and then have problems with hand over it can put pressure on your cash flow,” he said.
Wavemaster also recently won a contract with Danish ferry operator Christiansoefarten Company.
The vessel, a 40 metre high-speed monohull ferry, is due for delivery in May 2005 and will transport up to 245 passengers per voyage between Bornholm and popular tourist destinations Simrishamn and Christianso.
The company has not released the value of the project.
