PDVSA Declares Maritime Emergency

March 6, 2019

Venezuela's state-run oil company PDVSA declared a maritime emergency on Tuesday after Bernhard Schulte Shipmanagement (BSM) disclosed plans to return 10 tankers over unpaid fees, according to a document from the state-run firm and sources.

BSM, operator of a portion of PDVSA's tanker fleet, last month confirmed its crews would abandon the tankers Rio Arauca and Parnaso, which were held in Portugal over unpaid fees to a shipyard and port authority. A third vessel also operated by BSM, the Icaro, separately was seized in Curacao by a group of shipping firms claiming unpaid bills from PDVSA.

(Reuters reporting by Marianna Parraga; Editing by Jeffrey Benkoe)

Related News

CMA CGM Sees Shipping Demand Holding Up After Restocking Wave Iran Releases Oil Carried by Tanker St Nikolas Cyan Renewables to Buy MMA Offshore Containership Fleet Growing at Fastest Rate in 15 Years Bridge Errors Led to Bulk Carrier Grounding -NTSB