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LONDON (Reuters) Many oil tankers in Libya state owned fleet remain anchored and unable to trade as cash flow issues continue to bite, a company managing some of their vessels Canada Goose Outlet said on Wednesday.
Crude oil shipments from Libya, once Africa third largest producer, have been at a virtual standstill for months as leader Muammar Gaddafi has faced international pressure and sanctions while he fights to hold power during a bloody Canada Goose sale uprising.
Canada Goose Outlet While Libya state owned shipping firm General National Maritime Transport Company (GNMTC) is canada goose coats not targeted by sanctions, the canada goose clearance sale tanker group is believed to be Canada Goose Online controlled by Gaddafi son Hannibal, who is on a blacklist of individuals subject to travel canadian goose jacket bans and asset freezes. Canada Goose Outlet
canadian goose jacket is not on the list of designated individuals and entities; however Hannibal Gaddafi is, of course, on the list, said Laura Hamilton, an associate at law firm Norton Rose. canadian goose jacket
asset freeze not only applies to assets owned by the Canada Goose Coats On Sale entities and individuals listed but also to assets held or controlled by them, hence the need for careful due diligence.
GNTMC has 18 vessels in canada goose online its international trading fleet, seven of which are managed by the company and a further three by outside ship managers.
canada goose coats The spokesman said the eight tankers it cheap Canada Goose managed were currently laid up off Malta and Singapore. canada goose coats
canada goose black friday sale the whole political situation you can get any money in or any money out in terms of working with Tripoli, the spokesman said. canada goose black friday sale
Canada Goose Jackets there is no money flow, you can trade, you can pay for the bunkers, you can pay for the crews, you can pay for the ships and the ship owner can get paid by the charterer. If Canada Goose Parka no one can get paid, you have to stop the ship. and managers have to man laid up vessels anchored outside ports or in the inner anchorages under the International Safety Management canada goose code canada goose clearance of practice. Only a skeleton crew is required however. Canada Goose Jackets
The spokesman said the tankers GNMTC managed were presumed to be somewhere else.
canada goose deals Tripoli canada goose coats on sale based GNMTC could not immediately be reached for comment. canada goose deals
SANCTIONS HURTING Rebel fighters advanced toward Tripoli from the east on Wednesday in the biggest push in weeks. The advances came as reports proliferated that Gaddafi under pressure from a five month uprising against his rule, sanctions and a NATO bombing Canada Goose online campaign was seeking a deal under which he would step down.
canada goose (sanctions) are having an effect and, Canada Goose Jackets in general, they have limited the opportunities for shipping companies to call at ports because the restrictions affect their ability to trade. There is a hot war going on too which will further discourage activity, said Philip Roche, canada goose store a partner at Norton Rose. canada goose
buy canada goose jacket cheap a doubt, ship owners will canada goose factory sale have to think very long and hard and sit down with insurers before trading in Libya. buy canada goose jacket cheap
Canada Goose online Libya produced 1.6 million barrels of oil per day before the war, or almost 2 percent of world output. Canada Goose online
canada goose clearance sale Last month the European Union added six Libyan buy canada goose jacket ports to the list of assets frozen as part of sanctions on Gaddafi government. The ports targeted are Tripoli, Al canada goose uk outlet Khoms, Zuara and the key oil buy canada goose jacket cheap terminals of Brega, Ras Lanuf and Zawiyah. canada goose clearance sale
Canada Goose Parka https://www.canadagoosesale.biz date, the sanctions have focused on people rather than trade sectors. However, the most recent amendments provide for a distinction between contracts related canada goose black friday sale to oil, gas canada goose uk shop and refined products and other contracts, said Norton Rose Hamilton. Canada Goose Parka
Canada Goose sale appears that the intention behind the new provisions is uk canada goose to starve those ports controlled by the present Libyan government of any funds brought in through international trade. Canada Goose sale
cheap Canada Goose In the meantime, the country vital seaborne activity canada goose uk black friday continues to cheap canada goose uk remain paralyzed. cheap Canada Goose
canada goose coats on sale at a Gaddafi controlled Libyan port involves the risk of getting caught up in the fighting, and collateral damage as a consequence of NATO bombings is a possibility, although NATO bombings are normally very precise, said Jakob Larsen, maritime security officer with BIMCO, the world largest private ship owners association. canada goose coats on sale
buy canada goose jacket Larsen said Gaddafi forces posed a threat to merchant shipping, especially if their situation became more desperate. buy canada goose jacket
canada goose store scenarios could include taking a crew hostage, use of crew as a bomb shield, or even hijacking ships and using them as tools of destruction against NATO warships, or uk canada goose outlet for example, rebel controlled oil installations, he said canada goose store.