A legal battle over a shipload of gasoline held in southern Texas had ended with a court approval to sell it to Kolmar Americas for $2.75 million, which is less than half of its current market value. The gasoline at one point was suspected of heading for Venezuela in violation of US sanctions.
The gasoline originated in Panama, and the company that chartered the ship officially was to send it to Aruba. The ship’s owner, however, said they thought the ship was going to transfer the gasoline off-shore to a ship operated by the Venezuelan oil company.
The ship’s owner feared the US would come after him if that happened, and took the ship to Houston. They subsequently seized the gasoline and put it up for auction. The court ruling today just affirmed that the ship’s owner was allowed to take the gasoline, and to sell it.
That it was just one ship’s-worth of gasoline, and the ship’s owner was not a big player in petrochemicals led to few bids, which is why Kolmar Americans got it for below market price. What Kolmar intends to do with the cargo is as yet unclear, but they operate in the petrochemical sector and would be able to safely take the gasoline wherever it needs to be.
I don’t get it , where is it written that US sanctions must be obeyed by anyone and everyone,? a little like playing God or behaving like New York mobsters, threatening and intimidating everyone on the face of the earth.
Because we can get away with it. You toe the mark and you get our foreign aid. Defy us and we will put you on a list.
US Court approves piracy.
Is the U.S. replacing Somalia on piracy . How much ransom did you charge ?
Stolen… Plain and simple. Trump is stealing now…. We are a nation of bullies and pirates.
I really don’t what is going on by reading this story But it sounds like opprsion and crime against somebody .
Um, might want to check the connections that
Kolmar Americans has with trump admin-sounds like grifters may have rec’d a payday with purchase of stolen gas for half market value.
Daylight robbery by US thieves…!