Sovcomflot has gone to court over a charter dispute with struggling state run Venezuelan energy firm PDVSA.
Reuters is reporting that the Russian line has taken a $20m cargo of PDVSA oil on one of its own ships hoping a UK court will allow it to be used as part payment for some $30m it claims it is owed in charter fees by PDVSA.
Sovcomflot provides around 15% of PDVSA’s tanker transport needs. The Venezuelan company has been hit hard by the low price of oil and owes many other firms around the world – including terminals and shipyards – millions of dollars.
Neither party was willing to comment on the case when contacted by Reuters.
