11MAR2019 - NEWS - Venezuelan state oil company PDVSA declares maritime emergency as tankers return

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. PDVSA’s weak finances, the result of mismanagement, a sharp decline in oil output and U.S. sanctions designed to oust President Nicolas Maduro, have prompted dozens of suppliers and partners to stop working for the company. PDVSA’s maritime arm, PDV Marina, lacks about 160 people, including captains, machinists and operators, to immediately take back the 10 vessels from Bernhard Schulte Shipmanagement (BSM). Over a dozen tankers with Venezuelan oil around the world have been arrested in recent years by authorities or otherwise prevented from leaving because PDVSA has not paid for services.

Published by Editor - www.Livebunkers.com at 11-Mar-2019 05:55:34 [UTC] , contact editor at editor@livebunkers.com