Italian Tanker Owner ‘Shocked and Concerned’ By U.S. Sanctions Placed Against It

Italy-based tanker company PB Tankers is vowing to fight sanctions placed against it by the U.S. Treasury department over its alleged involvement in the Venezuelan oil sector. PB Tankers S.p.a. was one of four shipping companies named last week by the Department of the Treasury’s Office of Foreign Assets Control (OFAC) as having transported oil from Venezuela in violation an … [Read more...]

U.S. Slaps Sanctions on Shipping Firms, Ships Carrying Oil from Venezuela

WASHINGTON, April 12 (Reuters) - The United States on Friday announced more sanctions on shipping companies transporting oil from Venezuela, blacklisting four shipping companies and nine vessels, some of which the U.S. Treasury Department said carried oil to Cuba. The U.S. Treasury identified the firms as Liberia-based Jennifer Navigation Ltd, Lima Shipping Corp and Large … [Read more...]

Shipbroker McQuilling Ends Tanker Contracts with Venezuela’s PDVSA

HOUSTON, March 15 (Reuters) - A second maritime firm has told Venezuela's state-run oil firm Petroleos de Venezuela it would end all charter contracts with the company as a result of U.S. sanctions, according to an internal document and a person familiar with the matter. U.S.-based McQuilling Partners Inc, which provided PDVSA with four contract tankers, joined German tanker … [Read more...]

Venezuela’s PDVSA Says Still Working with German Shipping Firm

By Mircely Guanipa and Marianna Parraga PUNTO FIJO, Venezuela, March 7 (Reuters) - Venezuela's state-run oil company PDVSA said on Thursday it has not halted business with maritime contractor Bernhard Schulte Shipmanagement (BSM), after the German firm notified it would remove crews operating 10 of 15 PDVSA vessels over unpaid fees and return the tankers. PDVSA's maritime … [Read more...]

Venezuela’s PDVSA Declares Maritime Emergency as Tankers Return

By Marianna Parraga March 6 (Reuters) - Plans by the German operator of a portion of the Venezuelan state oil company's tanker fleet to return 10 vessels because of unpaid fees prompted a unit of state-run PDVSA on Tuesday to declare a maritime emergency, according to a document from the state-run firm and sources. PDVSA's weak finances, the result of mismanagement, a sharp … [Read more...]