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David Herrmann
In 2023, Orlen completed prepayments through its Swiss subsidiary to Hannon International and Gold Mar International Trading, firms based in the UAE.
Afterward, three insured Polish ships traveled to Venezuela but were unable to load goods. The state-owned enterprise Petroleos de Venezuela announced that it had not obtained the funds.
The tankers stayed at sea for a number of months before coming back empty, causing Orlen to write off $394 million in losses from the inactivity.
The Polish group is seeking to reclaim $230 million from one of the firms, Hannon International, which asserts that it lacks such funds.
source: ft.com
Afterward, three insured Polish ships traveled to Venezuela but were unable to load goods. The state-owned enterprise Petroleos de Venezuela announced that it had not obtained the funds.
The tankers stayed at sea for a number of months before coming back empty, causing Orlen to write off $394 million in losses from the inactivity.
The Polish group is seeking to reclaim $230 million from one of the firms, Hannon International, which asserts that it lacks such funds.
source: ft.com
