According to The National, Vanmak Shipping owner Michael Chan appeared in a Rabaul Court last week, charged with sending out two unseaworthy ships.
Three other employees are reportedly facing the same charge - with the captain of one of the ships overseas, while the captain of the other was arrested, with the case adjourned until September 6.
The vessels are reportedly the Vanmak Toby and Pakoris, with the charges coming from investigations that found they were operating commercially while in an unsafe state.
Sharp is not alone in facing 162 counts of manslaughter stemming from the Rabaul Queen ferry disaster last year.
The ferry's chief mate, Michael Zirau, was reportedly arrested recently, which adds to the arrests of Rabaul Shipping port manager Grace Amen, Captain Anthony Tsiau and National Maritime Safety Authority Kimbe manager Michael Benjamin Livinai.