Eregli issues denial after Probulk lawsuit

Turkish shipowning group says it is not controlled by vice chairman Levent Karacelek’s Marvel.

Eregli Shipping has issued a sharp denial of allegations in a lawsuit by New York’s Probulk Carriers claiming that the Turkish company is an “alter ego” of vice chairman Levent Karacelek’s Marvel International Management and Transportation.

The Turkish shipowner’s operations manager, Yalcin Kalkavan, tells TradeWinds that the company is similar to a public company with around 200 shareholders.

“Mr Karacelık and Marvel are not alter egos of Eregli Shipping Company Limited,” he said in an emailed statement.

TradeWinds reported on Monday that Probulk, a bulker operator, has sued Karacelek and Eregli in a $12.8m lawsuit aimed at collecting a 2013 arbitration award against Marvel that has allegedly gone unpaid.

The lawsuit contends that Eregli and Marvel International are both ultimately controlled by Karacelek, a Turkish businessman.

“The info  given was not correct and Marvel  Shıppıng and Trading was even never a shareholder of Eregli Shipping Company Limited,” said Kalkavan, who said Eregli has checked the company’s shareholder rolls.

“Eregli Shıppıng Company Limited is a multi  partner company where almost all shipowners in Turkey are partners and company is not owned by any group or person,” he said.