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BSM likely to stop managing Venezuelan tankers soon

Logistic News - Published on Mon, 18 Mar 2019

Image Source: Reuters
Reuters citing, BSM reported that Maritime contractor Bernhard Schulte Shipmanagement is considering to stop managing Venezuelan state-oil company PDVSA’s tankers by the end of this month or in April following US sanctions against the country. It recent political developments made managing assets for the Venezuelan government “an almost impossible task”, and it was working on returning Venezuelan vessels to PDVSA’s maritime arm PDV Marina and its subsidiaries.

The German firm, which operates a fleet of 15 PDVSA vessels and has worked in the Latin American country for almost 25 years, said returning tankers to PDV Marina has proven to be “a difficult task considering the lack of resources” in Venezuela.

BSM said that “Nevertheless, our intention is to try and hand back all the vessels to PDV Marina and its subsidiaries as soon as practically possible.”

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Posted By : Ratan Singh on Mon, 18 Mar 2019
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