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Re: A Venezuelan Tanker Is Stranded Off The Louisiana Coast  

By: lkorrow in POPE IV | Recommend this post (1)
Fri, 18 Aug 17 8:59 AM | 57 view(s)
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Msg. 31534 of 47202
(This msg. is a reply to 31514 by capt_nemo)

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Why, pray tell, would the tanker need a letter of credit to unload the Venezuelan oil?




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The above is a reply to the following message:
A Venezuelan Tanker Is Stranded Off The Louisiana Coast
By: capt_nemo
in POPE IV
Fri, 18 Aug 17 7:13 AM
Msg. 31514 of 47202

A tanker loaded with 1 million barrels of Venezuelan heavy crude has been stranded for over a month off the coast of Louisiana, not because it can't sail but as a result of Venezuela's imploding economy, and its inability to obtain a bank letter of credit to deliver its expensive cargo.
http://www.zerohedge.com/news/2017-08-17/venezuelan-tanker-stranded-louisiana-coast


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