British Virgin Islands (BVI) incorporated petroleum products trading firm Septo Trading Incorporation (Septo) on Friday (3 January) submitted an arrest order for the 5,850 dwt bunker tanker C Rock at the First Instance Court of Piraeus.
The arrest order for the vessel was initiated by Septo due to an alleged debt of approximately USD 16.5 million (exact: USD 16,517,896.16) owned by Greek bunkering firm Macoil International SA (Macoil), according to Greek court documents seen by Singapore bunker publication Manifold Times.
The USD 16.5 million debt was derived from two separate Septo bunker cargo deliveries at the SKS Tanaro floating storage unit in Gibraltar in July and August 2018.
A number of other litigants and banks, including BNP Paribas, Unicredit, Vilma Oil, Sahara Energy Resource Limited, AOT Trading AG, and World Fuel Services, are also involved in the claim, showed the document.
The papers noted the Maltese-flagged C Rock to be owned by Marshall Islands registered Versus Trading which was alleged to be under the ownership/control of Chandris family and being “under the management of Macoil”; the parent firm purportedly lost more than USD 200 million before shutting down.
“Macoil International SA, whose trading license was withdrawn on 25.11.2019, was forced to cease operations due to the catastrophic interference of the family-owned property and the deliberate confusion between its corporate and personal property,” claimed the document.
“The owner family, illegally consumed so the entire share capital and all the financial services of banks and of commercial credit suppliers, making the company's inability to meet its obligations and forcing a shutdown.”
World Fuel Services Europe in mid-October submitted a complaint against Macoil at a U.S District Court claiming a total USD 11.75 million.
Manifold Times in late September reported Vitol SA seeking USD 20.6 million from Macoil over failed payment. The earlier court document also showed Macoil purportedly owing credit totalling USD 99.5 million to several parties.
Photo credit: MarineTraffic / Tony Hogwood
Published: 9 January, 2020
On 5th June 2021, VPS carried out a Remaining On Board (R.O.B.) survey on board a Singapore-registered bunker tanker at short notice by the Charterer and quickly identified the theft of 98 metric tons of bunker fuel.
The Bunkerchain Pte Ltd and Helmsman LLC sponsored event will be moderated by Gabian Chew, Senior Editor of Singapore bunkering publication Manifold Times.
No quarantine required if vessels have not called at Brazil, India, Nepal, Pakistan, the Philippines and South Africa during the 21 days prior to arrival at Hong Kong port, according to Marine Department notice.
CCIC discuss the progression of MFM technology for bunkering at Singapore port with Manifold Times; and possible development of a primary facility for MFM calibration.
‘The acquisition of PGI Industries will enhance VPS’ preventative maintenance services offered to the power sector, increasing protection and sustainability of the asset,’ says Malcolm Cooper, CEO, VPS.
A foreign vessel was involved in an alleged unauthorised STS incident with bunker tanker Pearl Melody on 5 June, Director and General Manager of Consort Bunkers tells Manifold Times.
14 Jun 2021