World News
Bourbon Suspends Dealings With Monjasa Over Nigeria "Illegal Bunkering" Ruling
Paris-headquartered Bourbon Offshore (Bourbon) says it has suspended dealings with global bunker player Monjasa as a result of convictions for "illegal bunkering" in Nigeria that were handed down earlier this year.
In a memo dated August 9, 2016, which has been seen by Ship & Bunker, Bourbon said that further to the Lagos, Nigeria High Court Ruling "in accordance with our Compliance rules, Bourbon cannot any longer continue any cooperation with said Supplier, whether directly or indirectly."
"As a consequence, we require you not to trade, whether directly or indirectly, with Monjasa DMCC, until further notice."
It is not immediately clear why the move comes several months after the court ruing.
The case itself stems back to 2015 when the supplier's Monjasa DMCC subsidiary, Glencore Energy UK Limited (Glencore), 14 individuals, and a Monjasa chartered bunkering vessel MT Anuket Emerald, were all charged with "illegal bunkering."
Ship & Bunker understands that Glencore's involvement in the matter is limited to the fact their name appeared on the bill of lading, something which is standard practice as the company who sold the original cargo to Monjasa, while Monjasa has strongly denied any wrongdoing.
"The important thing for me is to stress that there is nothing to this," Anders Østergaard, CEO at Monjasa Holding, said last year when the charges were brought.
"Unfortunately, the authorities (in Nigeria) are now trying to charge us with operating in Nigerian territory without permission, even though the ship was beyond the 12 nautical mile radius, thus located in international waters."
The 14 involved also all pleaded not guilty to the charges, but as Ship & Bunker reported in March, they were handed jail terms of between two and five years - with an option of instead paying fines of between N1,000,000 and N5,000,000 (which at the time equated to USD amounts of $5,000 to $25,000).
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 511.00 | 11.50 | 602.50 | 10.00 |
| Rotterdam | 479.00 | 1.00 | 618.50 | 1.50 |
| Houston | 464.50 | 4.00 | 615.50 | 5.00 |
| Fujairah | 506.00 | 2.50 | 703.50 | 7.50 |
| Global 20 Ports Average | 532.00 | 4.50 | 708.50 | 4.00 |
| Global 4 Ports Average | 490.00 | 4.50 | 635.00 | 6.00 |
| Global Average Bunker Price | 570.00 | 1.00 | 752.50 | 6.00 |
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