Re:Why billions of dollars of goods are stuck at sea
by bkor on Thursday September 22, 2016 @05:32PM
(#12560535)
They arrested the vessel on order of a bunker supply company at Panama Canal. See http://www.maritimelawcenter.com/html/arrest_of_vessel.html.
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Re:Why billions of dollars of goods are stuck at sea
by prodigal_erik on Thursday September 22, 2016 @08:00PM
(#12561359)
Does this mean the ship received fuel oil that isn't paid for? Like tackling a shoplifter on a grand scale?
Re:Why billions of dollars of goods are stuck at sea
by walrus01 on Thursday September 22, 2016 @10:43PM
(#12561964)
basically, yes, in most developed countries ships are provided with large amounts of fuel oil (bunker fuel) on credit, trusting that the large shipping company will pay in the very near future by wire transfer. In really sketchy 3rd world locations ships have to use cash from the captain's safe to buy fuel. If a ship is delinquent in its account with the local fuel supplier, the fuel supplier will file something in their local admiralty court for what is essentially a lien to seize the ship.
Re:Why billions of dollars of goods are stuck at sea
by bkor on Friday September 23, 2016 @08:43AM
(#12564107)
A 10.000+ container vessel uses 100-120 tons of fuel per day (see https://people.hofstra.edu/geotrans/eng/ch8en/conc8en/fuel_c...). Bigger ones are more efficient per container, but it'll still be more than 120 tons of fuel. If you fuel up, that's a lot of bunkers to take in. That's not paid in cash. Credit is used.