World News
Overseas Shipholding Group Asks U.S. Court Who to Pay for OW Bunker Bill
Tanker owner Overseas Shipholding Group (OSG) has filed papers at the U.S. Bankruptcy Court in Connecticut, U.S. seeking direction from the court as to who it should pay for a $2 million bill, Tradewinds reports.
Group company OSG Ship Management and its affiliate 1372 Tanker filed an “interpleader” case, in an attempt to avoid the arrest of OSG Ship Management’s 319,000 deadweight tonne Very Large Crude Carrier (VLCC) Overseas Mulan.
“OSG is prepared to make the $2,024,393.25 payment for the fuel but faces competing claims to the funds,” wrote local law firm Cohen & Wolf.
“Without guidance from the Court, OSG is stuck: pay Chemoil, and risk competing claims from [OW Bunker USA], or pay the debtor and risk arrest of the vessel.
It is understood that OSG arranged for the delivery of 4,200 tonnes of bunkers at Fujairah, UAE, through OW Bunker in October.
The VLCC was reported currently to be in ballast and at anchor off Thailand.
Other ship owners and charterers in the U.S. have filed similar actions, according to the report.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 648.00 | 2.00 | 808.00 | 10.00 |
| Rotterdam | 613.50 | 4.50 | 792.00 | 21.50 |
| Houston | 646.00 | 3.00 | 851.00 | 13.50 |
| Fujairah | 647.50 | 1.50 | 900.00 | 0.50 |
| Global 20 Ports Average | 672.50 | 0.50 | 896.50 | 0.50 |
| Global 4 Ports Average | 638.50 | 2.00 | 838.00 | 4.00 |
| Global Average Bunker Price | 727.00 | 2.00 | 943.00 | 2.00 |
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