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February 22, 2019

THE OTHER PEOPLE’S MONEY RAN OUT: Crews to abandon two Venezuelan tankers stuck in Portugal.

The crew of Venezuelan oil tanker, the Rio Arauca, that has been stuck in the middle of the river Tagus in Lisbon for nearly two years due to unpaid debt, is set to be dismissed, managers Bernhard Schulte Shipmanagement (BSM) said on Thursday.

BSM also said in a statement sent to Reuters another Venezuelan tanker, the Parnaso, which is in dry dock at the port of Setubal, south of Lisbon, will also have its crew removed later this week due to a lack of payment from owners PDV Marina, a subsidiary of Venezuela’s state-owned oil company PDVSA.

Lisbon’s maritime court ruled to take possession of the Parnaso last August. Both vessels are under BSM management.

PDVSA had no immediate comment on the issue.

Really, what’s left to say?