Norway’s Hunter Group says its ongoing dispute with a long-term charterer has escalated further after the counterparty once again paid significantly less than the agreed charter amount for two VLCCs.
The Oslo-listed company revealed that the unnamed charterer underpaid April charter hire by approximately $9.22m, following a similar payment shortfall already reported for March.
According to Hunter Group, the total disputed amount has now risen to around $17.84m, excluding accrued interest.
The company stated that both management and its legal advisers remain confident that the charterer has “no merit” for making the reduced payments, adding that the continued underpayment is considered a breach of contract.
Hunter said it will continue taking “all necessary steps” to defend its contractual rights as the situation develops.
For April, the company reported net time charter earnings of roughly $24.8m. However, more than one-third of that amount remains unpaid while the dispute remains unresolved.
The latest development follows an earlier disclosure made in April, when Hunter first informed the market that the same charterer had underpaid March 2026 hire payments by around $8.3m.
So far, the company has not identified the counterparty involved in the dispute and has also not disclosed the exact reason behind the disagreement.
Hunter Group has spent recent years focusing heavily on the VLCC segment while gradually moving toward a more charter-oriented business model.
The dispute is unfolding during a period of internal transition for the Norwegian owner. Earlier this month, the company appointed board member Morten Hammer as interim chief executive following management changes.
Hunter said the appointment was designed to ensure operational stability while the company navigates both the ongoing charter dispute and wider strategic matters.
