World News
Minerva Sues Norvic Maritime Holdings and Related Companies Over Alleged Unpaid Bunker Debt
Global marine fuel supplier Minerva Bunkering is suing Norvic Maritime Holdings and related companies over an alleged unpaid bunker debt.
The firm has commenced proceedings in the UK against Norvic Maritime Holdings Inc, the parent company, and in the US against Norvic Maritime Holdings, Norvic Shipping Int LLC, Norvic Shipping Asia Pte Ltd and Valley National Bank, a source familiar with the situation told Ship & Bunker.
The case is over an alleged unpaid debt of $230,040.26 relating to the supply of about 500 mt of VLSFO to the M/V Alexandris.
Minerva is understood to have made several payment demands and received assurances of payment in response, but has not received payment and has seen reports of Norvic disposing of assets.
The company is tracking the whereabouts of the M/V Alexandris and may consider arranging its arrest.
Last month it emerged that rival bunkering firm Peninsula was suing Norvic Shipping International for $109,885 and at least $200,000 in costs over a marine fuel hedging agreement between the two firms.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 640.50 | 66.00 | 967.50 | 157.00 |
| Rotterdam | 573.50 | 42.50 | 944.50 | 132.50 |
| Houston | 579.00 | 26.00 | 923.00 | 103.50 |
| Fujairah | 629.00 | 65.00 | 1044.50 | 163.50 |
| Global 20 Ports Average | 629.00 | 41.50 | 981.50 | 104.00 |
| Global 4 Ports Average | 605.50 | 50.00 | 970.00 | 139.00 |
| Global Average Bunker Price | 635.00 | 30.50 | 948.50 | 75.00 |
Popular Now More
-
Mar 02A fire was reported at the plant earlier in the day. -
Feb 28Unverified claims of the Strait of Hormuz being closed are being broadcast to ships in the region after US and Israeli strikes on Iran on Saturday. -
Mar 03A local source tells Ship & Bunker that authorities are currently saying there is no impact on the port due to the incident.