Tag: Venezuela

Saudi Arabia’s tanker owner Bahri has dismissed reports that one of its very large crude carriers (VLCCs) was breaching U.S. sanctions on Venezuela. ‎The company reports that the cargo, they're accused of, was contracted on January 9, 2019, well before the U.S. sanctions were imposed against Venezuela on January 28, 2019. The company’s 303,000 dwt oil tanker Abqaiq is on its way from the Red Sea to pick up a cargo from the ‎Port of Jose ‎Terminal in Venezuela for one of its Indian customers.

More than 20 tankers loaded with 9.6 million barrels of Venezuelan oil were anchored off the US Gulf Coast as of 7 February. Some buyers had purchased the cargoes before US imposed the sanctions in late January, using the vessels as floating storage, while others weighed how to pay under the new rules.

A flotilla loaded with approximately 7 million barrels of Venezuelan oil has formed in the Gulf of Mexico, some holding cargoes bought ahead of the latest U.S. sanctions on Venezuela and others whose buyers are weighing who to pay, according to Reuters. Trump's decision to impose sanctions last week was meant to undercut support for Venezuelan President Nicolas Maduro.

According to Drewry, US sanctions on Venezuela are possible to shift the pattern of crude tanker trade, with long-haul trade replacing the short-haul trade. In fact, while the expected change in trade pattern will favour VLCCs, it will raise challenges for Aframaxes. These measures could halt Venezuela’s crude exports. Namely, Rajesh Verma, Lead Analyst, Tanker Shipping, explains.

Trump administration has moved forward, imposing new financial sanctions on Venezuelan state oil firm PDVSA, as part of a pressure campaign to make the government of Venezuelan president Nicolás Maduro step down. The new US measures aim to affect the pattern of petroleum shipping in the Caribbean and beyond, since the US has trade relations of oil and refined products with Venezuela.

The political crisis in Venezuela has in general terms no significant impact on the maritime field, according to an update by the Global P&I Correspondents. The only problems reported relate to a disruption of some  bulk cargo discharge due to the unrest impacting the availability of trucks.

The ferry Maria Rosario partially sank on December 31, at the pier at Puerto La Cruz port, Venezuela, because of lack of maintenance. The ferry was at the pier the since 2017. According to local media, the ferry remains tied to the dock and is in the process of being sold in parts.

The West P&I Club informed of a recent increase in security-related incidents for vessels visiting Jose Terminal, and anchoring to the North and North East of the Terminal during 2018.

As IMB reported two robbers boarded a product tanker that was anchored in Puerto La Cruz Anchorage, Venezuela, on December 1, and tried to open the forward store. The crew members saw the perpetrators on time and raised the alarm.

Venezuelan oil firm PDVSA is negotiating with shipping firms to establish a second ship-to-ship operation off Venezuela's eastern coast. This aims to increase struggling crude exports. The STS will be placed near La Borracha island, approximately 16 km off Puerto La Cruz.