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Massimo Tresa

ofac de lists pbtankers

Expanding its services

PB Tankers is exploring the possibility, along with International Partners, to set up a division specialised in the operations & management of Research and Oceanographic vessels, to enhance our experitise by extending our Mission and its core values in terms of operational efficiency.

ofac de lists pbtankers

OFAC de-Lists PB Tankers

Statement from PB Tankers 

Rome, July 4, 2019

 

In an announcement dated July 3, 2019, The US Department of Treasury, Office of Foreign Asset Control (OFAC) de-listed PB Tankers S.p.A. and its owned and managed ships (Gold Point, Ice Point, Indian Point, Iron Point, Silver Point and Alba Marina Floating Storage), removing them from their OFAC list in relation to Venezuela sanctions.

The US Department of State has also acknowledged all the concrete and meaningful actions of the Company.

As a result of the delisting, all property and interests in property, which had been blocked as a result of the designation, are unblocked, and all transactions involving the Company and its ships are no longer prohibited.

In one of the fastest delistings in recent OFAC history, PB Tankers’ history of compliance and its continued commitment to strong compliance policies and procedures, as well as the support of the Italian Institutions and the quality of the information provided by the Company in relation to its involvement with Venezuela, were cited for the resolution of the case.

PB Tankers wishes to thank the Italian Institutions and in particular the Italian Embassy in Washington for their unstinted support, together with their professional advisors, Hill Dickinson of London (Julian Clark and Siiri Duddington) and Blank Rome of Washington DC (Matthew J. Thomas), for helping the Company to resolve this unfortunate situation.

All PB Tankers’ fleet remain fully crewed and in Class and ready to resume trading. Three of the vessels are in Freeport, The Bahamas, one is in Rotterdam and one is off Istanbul.

“We are open for business and wish to thank our crews, our customers and business partners for their patience and understanding through this very difficult period” says the Company.

PB Tankers and OFAC

Statement from PB Tankers 

Rome, April 15, 2019

PB Tankers is shocked and concerned by the action taken by OFAC (US Office of Foreign Assets Control) in adding the company and a number of the company’s vessels to the current SDN (Specially Designated Nationals) list in relation to trade with Venezuela. This has been done without any notification or contact with the Company. As a consequence, we will be taking immediate steps to ensure that both are delisted as a matter of urgency.

PB Tankers, an Italian shipping company with more than 100 years of service to the international community, has been taking regular advice from both its UK and US lawyers and has been taking all possible steps to ensure compliance with current US sanctions including, but not limited to, restriction of trade under a single time charter contract which predates the current sanctions regime. PB Tankers does not have any ships in Venezuela, nor will be trading into or out of Venezuela.

It is therefore extremely disappointing that the US/OFAC have decided to take such action against an Owner who has throughout done everything possible to comply.

PB Tankers will continue to meet its obligations as a matter of international law.

 

Contact Pat Adamson + 44 7836 766 947.

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