Global energy and commodity price reporting agency Argus Media on Friday (26 July) provided a marine fuels industry related update focusing on refuelling issues of the Bavand and Termeh at Paranagua Bay, Brazil:
A sanctions row that has stranded two Iranian grain vessels off Brazil's southern coast should be resolved soon, Brazil's president Jair Bolsonaro said today.
The vessels moored in Paranagua Bay have been awaiting bunker fuel for a return journey to Iran since early June. Brazil's state-controlled Petrobras denied the request for fuel, citing US sanctions. But a 24 July federal supreme court decision could force the firm to deliver it.
The Parana Port association said the two Iranian ships at the center of the crisis— the Bavand and the Termeh—should receive fuel soon and set sail over the weekend.
The partially fueled Termeh is tentatively scheduled to receive fuel at the Paranagua port tomorrow at 2pm ET. The vessel will then travel on to Imbituba port in Santa Catarina to receive a 65,000 t cargo of corn.
The Bavand already loaded 48,000 t of corn at Imbituba and is tentatively scheduled to receive fuel at Paranagua tomorrow at 8pm ET, a Paranagua port operator said.
Islamic Republic of Iran Shipping Lines, the ships´ owner, was not available to comment.
"Our government is aligned with the Trump government. We have been talking with the US ambassador since yesterday. We have the [supreme court] decision," Bolsonaro told reporters in Brasilia. "The banks do not want to receive the payments for refueling the ships. So I hope that in the next few hours, or by the latest Monday, we will solve this problem without creating any trouble with the United States."
Bunker specialists have said that refueling by Petrobras is the most straightforward option, and the one most likely to resolve the predicament. The company has said refueling the vessels could have serious financial consequences, but has not said whether it will appeal the high court's decision. It declined to comment today.
The vessels had delivered urea supplies to Brazil before proceeding with plans to load around 100,000 tons of corn for Iran.
Iran has threatened to end its agricultural purchases from Brazil if the ships are not refueled.
Source: Argus Media
Published: 29 July, 2019
Sukumar Verma, Managing Director at Informa Connect Singapore, explains how the world’s largest bunkering event will be virtually carried out between 6 to 8 October 2020.
David John Kidd amassed losses of over SGD 1 million to Lukoil Asia Pacific Pte Ltd through multiple irregular trades with Transocean Oil over a four-month period in 2016.
Helmsman LLC lawyers discuss pausing of LC payment, what it means for parties buying ships from companies of a group affected by fraud allegations, and trafficking in spent bills of lading.
Beluga Asia has entered into a Memorandum of Agreement with Sun Marine Corporation to acquire bunker tanker M.T. MA Veronica for USD 2.45 million.
Listing of Brightoil’s shares on the Stock Exchange was cancelled on 16 March 2020, according to a written Judgement of Russell Coleman, a Judge of the Court of First Instance.
‘To this end, the Bank has shown there are grounds for suspecting the CIA Contract may be a sham / fake contract and/or was not performed,’ said CMB’s submission to the Singapore court.