Bahri seeks to set record straight after Venezuela sanctions ‘misinformation’

Bahri in its statement added that it strictly adheres to and ensures full compliance with the applicable laws and ‎regulations in every market where it operates.
Bahri, VLCC, Venezuela, Saudi arabia

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Bahri has responded to media speculation about the destination of one of its VLCC tankers, calling press reports that it was possibly violating US sanctions on the country “misinformation”.

“Bahri seeks to clarify misinformation about one of its vessel’s voyage to Venezuela for loading, the oil tanker ‘Abqaiq’ ‎is in ballast condition with no cargo onboard and on her way from the Red Sea to pick up a cargo from the ‎Port of Jose ‎Terminal in Venezuela for one of its regular customers in India,” the shipping company said in a statement.

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“‎This cargo was contracted on January 9th, 2019, well before the U.S. sanctions were imposed against Venezuela on January 28th, 2019. The ‘Abqaiq’ voyage is expected to be completed before the end of the exemption period allowed to wind-down agreements,” the statement added.

Bahri responded after S&P Global Platts speculated in a news story that the VLCC may be in violation of US sanctions. S&P also reported that no Bahri tankers have been tracked sailing to Venezuela for the past two years.

“Venezuela is a frequent loading destination for Bahri’s oil tankers, delivering cargoes ‎to ports in India and China,” said Bahri. “Hence, the recent voyage to the Port of Jose is not an ‎exceptional or peculiar one, as lately stated by a media outlet. “

Bahri in its statement added that it strictly adheres to and ensures full compliance with the applicable laws and ‎regulations in every market where it operates.