PB Tankers will have to leave the management of Alba Marina
The FSO's owner, Edison E&P, said this change is necessary in order to get the unit removed from the US OFAC blacklist
PB Tankers and FSO Alba Marina, floating installation operating offshore Vasto on behalf of Edison E&P, was blacklisted by OFAC (Office of Foreign Assets Control of the US Treasure department) together with 5 oil/chemical tankers owned by the company for having shipped petroleum products from Venezuela to Cuba.
Last June 11th a meeting with Filt Cgil, Fit Cisl and Uiltrasporti was attended at Confitarma premises, and, after having recalled the FSO was sanctioned because “erroneously blacklisted with other 5 (PB Tankers' ships, Ed]”, the company confirmed they are udertaking legal action and operating through the Italian institutions and diplomatic services, to be delisted”, PB Tankers and Edison E&P stated the ship is currently partially operating with a temporary licence, that “FSO Alba Marina re-started storage operations and the crew is being paid.
According to Edison, the FSO will only be delisted after having terminated the existing contract with PB Tankers.
Such agreement was sealed on December 11th 2018, expiring on December 31st 2021, unless being extended by three more years, as confirmed in the application for composition with creditors submitted by the company because PB Tankers believed the composition with creditors sealed with Ernest & Young, and currently being evaluated by other lenders, could not be approved being the whole fleet standing-by. Rome bankruptcy tribunal granted 120 days to submit final agreement.
Edison E&P also pinpointed that the new shipowner replacing PB Tankers will hire the existing crew member under the same terms.
Built in 1999 at Dalian New Shipbuilding Heavy Industries Chinese yard, originally as Aframax unit with 109,000 dwt, 245 metres in length and 42 metres in breadth.
In 2011, PB Tankers took over the ship from Pava Shipping (backed by Greece-based Thenamaris) for 25 million dollars; in essence, based on the agreement sealed with the company and Edison E&P, the ship was refurbished at Fincantieri of Palermo, which turned her into a Floating Storage Unit, ready to operate on behalf of Edison in the Adriatic handling Rospo di Mare crude oil.