Singapore-based shipping firm Mercantile & Maritime on Tuesday (18 February) said it would cease business operations that are not compliant with US’ Treasury’s Office of Foreign Assets Controls sanctions.
On the same date, the US Treasury’s Office of Foreign Assets Controls announced further sanctions in relation to oil sales from Venezuela, specifically on Russian oil major Rosneft’s Swiss trading arm.
“Following these sanctions, we have reviewed our live arrangements and will implement any necessary measures required to ensure we comply with international requirements in line with the wind-down timeline set by the OFAC general license,” said Mercantile in an official statement.
“As a global business operating across the oil and gas value chain, the Mercantile & Maritime Group operates in full compliance with all international trade laws and maritime regulations.
“We will continue to monitor developments to ensure we remain compliant going forward,” it concludes.
Related: U.S. sanctions Rosneft Trading for brokering Venezuela crude oil deal
Photo credit: Aymanejed
Published: 3 March, 2020
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Captain could not produce sufficient documents to prove legality of 3 million litres of gasoline onboard.
For foreign ships, crew change will be considered if the ship meets all requirements and are in Singapore for cargo operations, bunkering or other marine services, it said.
Now looking for floating oil storage unit between 200,000 to 300,000 mt for further development.
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Integr8 Fuel injunction varied by Singapore Court to allow former employees to start work at Hartree Group in December 2022 following failure to produce evidence on biofuels development plans.
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Livestock carrier also involved in earlier bunker claim with Glander International Bunkering due to remaining unpaid fuel bill of approximately USD 116,000, according to court documents obtained by Manifold Times.
