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Switzerland to post Nigeria $14 million bond over bunkering case

For release of bunker tanker San Padre Pio, cargo and crew, orders International Tribunal for the Law of the Sea.

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The International Tribunal for the Law of the Sea (Tribunal) on 6 July issued an order to have Switzerland post a US $14 million bond to Nigeria for the release of bunker tanker M/T San Padre Pio, its cargo, the Master and three officers from Nigerian waters.

The Swiss-flagged 7,616 dwt bunker tanker M/T San Padre Pio was arrested by the Nigerian navy on 23 January 2018 and has been detained at Port Harcourt in Nigeria.

A panel of lawyers representing Switzerland argued “bunkering activities carried out by the M/T San Padre Pio in the exclusive economic zone of Nigeria are part of the freedom of navigation” and “that it has exclusive jurisdiction as the flag State over the vessel with respect to such bunkering activities”.

Nigeria’s argument was “it has sovereign rights and obligations […] to exercise its enforcement jurisdiction over the bunkering activities in question in its exclusive economic zone”.

The Tribunal “considers it appropriate under the circumstances of the present case to prescribe provisional measures requiring Nigeria to release the M/T San Padre Pio, its cargo and the Master and the three officers upon the posting of a bond or other financial security by Switzerland and that the vessel with its cargo and the Master and the three officers be allowed to leave the territory and maritime areas under the jurisdiction of Nigeria”

The Tribunal “determines that the bond or other financial security should be in the amount of US$ 14,000,000”.

The full judgment of the case heard by the International Tribunal for the Law of the Sea may be viewed here.

Photo credit: International Tribunal for the Law of the Sea
Published: 18 July, 2019

 

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Winding up

Singapore: Director of Teras Lyza declares firm’s inability to continue business due to liabilities

Ramalingam S/O Ramalingam, director of Teras Lyza Pte Ltd, made and lodged with the Official Receiver a statutory declaration stating the firm cannot by reason of its liabilities continue its business.

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Barges, tugboats and bumboats operators and charterers Teras Lyza Pte Ltd director, Mr. Ramalingam S/O Ramalingam @ Kamal Deen Bin Abdullah, on Friday (16 February) made and lodged with the Official Receiver a statutory declaration, according to notices published on the Government Gazette on 26 February.

The statutory declaration by the director stated that:

  1. I am a director of the abovenamed company;
  2. The abovenamed company cannot by reason of its liabilities continue its business; and
  3. The meetings of the abovenamed company and of its creditors have been summoned for the 8th day of March 2024, being a date within one month of the date of this Statutory Declaration.

In another notice, Messrs. Ng Kian Kiat and Goh Wee Teck care of 8 Wilkie Road #03-08 Wilkie Edge Singapore 228095 have been appointed as joint and several Provisional Liquidators of the company on the 16 February.

In a third notice, a meeting of the creditors of the company will be held at 8 Wilkie Road #03-08 Wilkie Edge Singapore 228095 through an audio-visual conference on the 8 March 2024 at 2.30 pm for the purposes of:

  • receiving a statement of the Company’s affairs together with a list of creditors and the estimated amounts of their claims; 
  • appointing liquidators; 
  • appointing a committee of inspection of not more than 5 members, if thought fit; and 
  • any other business.

 

Photo credit: Benjamin child
Published: 27 February, 2024

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Sanctions

Russia’s largest shipping company Sovcomflot sanctioned by U.S. Treasury

In addition to designating Sovcomflot, OFAC is identifying 14 crude oil tankers as property in which Sovcomflot has an interest.

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The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) on Friday (23 February) placed Russia’s state-owned shipping company and fleet operator targeting Joint Stock Company Sovcomflot (Sovcomflot) under sanctions.

The development was to responsibly reduce Russia’s revenue from oil sales.

In addition to designating Sovcomflot, OFAC is identifying 14 crude oil tankers as property in which Sovcomflot has an interest.

“The price cap on Russian oil continues to serve its twin goals of limiting Kremlin profits while promoting stable energy markets,” said Deputy Secretary of the Treasury Wally Adeyemo.

“Today, we take the next step by targeting Russia’s largest state-owned shipping company and fleet operator, dealing a huge blow to their shadow operations. We are entering the next phase of increasing Russia’s costs in a responsible manner to mitigate risks.”

Concurrent with the designation of Sovcomflot, OFAC is also issuing a general license authorizing the offloading of crude oil (or other cargo) from these 14 vessels for a period of 45 days.

These vessels, all of which are beneficially owned by Sovcomflot, are:

  1. ANATOLY KOLODKIN (IMO 9610808)
  2. NS ANTARCTIC (IMO 9413559)
  3. NS LION (IMO 9339313)
  4. NS CONSUL (IMO 9341093)
  5. NS BURGAS (IMO 9411020)
  6. NS CAPTAIN (IMO 9341067)
  7. NS COLUMBUS (IMO 9312884)
  8. SAKHALIN ISLAND (IMO 9249128)
  9. NEVSKIY PROSPECT (IMO 9256054)
  10. GEORGY MASLOV (IMO 9610793)
  11. LITEYNY PROSPECT (IMO 9256078)
  12. KRYMSK (IMO 9270529)
  13. NS CREATION (IMO 9312896)
  14. NS BRAVO (IMO 9412359)

In addition, OFAC is issuing a general license authorizing transactions with all other Sovcomflot-owned vessels for the similar 45-day period.

Sovcomflot has also been sanctioned by Australia, Canada, New Zealand, and the United Kingdom (UK) and is under certain European Union (EU) restrictions.

 

Photo credit: tommao wang on Unsplash
Published: 27 February 2024

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Crime

Vietnam: Two ships seized over 170,000 litres of unknown origin diesel oil

Vietnam Coast Guard said vessels were transporting various quantities of oil cargo: KG-91487- DR was transporting about 145,000 litres and KG-91602-TS transported about 25,000 litres.

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Vietnam: Two ships seized over 170,000 litres of unknown origin diesel oil

The Vietnam Coast Guard on Tuesday (20 February) said it seized a total of about 170,000 litres of unknown origin diesel oil in an operation. 

Patrol boats belonging to Coast Guard Region 4 Command detected two fishing boats – KG-91487- DR and KG-91602-TS – displaying several suspicious signs.

Initial investigations found all vessels without invoices and documents proving legal origin of the oil material.

The vessels were transporting various quantities of oil material: KG-91487- DR was transporting about 145,000 litres and KG-91602-TS transported about 25,000 litres.

The authorities made records of administrative violations,and escorted the vessels to Fleet Port 422 in Phú Quốc city, Kiên Giang province for further investigations and handling in accordance with the law.

 

Photo credit: Vietnam Coast Guard
Published: 23 February, 2024

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