The shipping subsidiary of commodities and mining multinational Glencore is being sued in federal court in the US state of Connecticut to the tune of $7.3m, the amount of an arbitration award made previously but still not settled.
Singapore-based ST Shipping & Transport Pte – a unit of Anglo-Swiss commodity trader and mining company Glencore (Global Energy Commodity Resources) – is being sued by vessel owner Space Shipping Ltd of Malta over a ship that was impounded in Venezuela while being chartered by ST Shipping.
The impounded ship, the 2005-built oil tanker CV Stealth, was waiting to load a cargo of crude from Puerto la Cruz in Venezuela intended for a US port when it was detained on suspicion of producing fake documents purportedly from Venezuela’s state oil firm PDVSA.
, was waiting to load a cargo of crude from Puerto la Cruz in Venezuela intended for a US port when it was detained on suspicion of producing fake documents purportedly from Venezuela’s state oil firm PDVSA.In its defence in the past, ST Shipping has claimed it did not expose the vessel to capture or seizure.
