[Probably best to get earphones and hit play as you start to read this…]

For Reuters, Marianna Parraga and Mircely Guanipa have one of those stories thatman, well, just read it:

More than 4 million barrels of Venezuelan crude and fuels are sitting in tankers anchored in the Caribbean sea, unable to reach their final destination because state-run PDVSA cannot pay for hull cleaning, inspections, and other port services, according to internal documents and Reuters data.

About a dozen tankers are being held back because the hulls have been soiled by crude, stemming from several oil leaks in the last year at key ports of Bajo Grande and Jose, which has resulted in delayed operations for loading and discharging.

Since debt-laden PDVSA cannot afford to have the ships cleaned, they have to wait for weeks to navigate international waters, delaying shipments.

 

Did you get that? People in Venezuela are skipping meals while PDVSA has $176 million worth of oil stranded at sea, because it can’t afford to clean them!

Verga…

 

44 COMMENTS

  1. How long can it go?!!! My dear defenders dressed in olive?

    ‘Cause the government’s only plan is to wait for oil prices to recover, after that all will be OK, they say.

    The economist took interest in Venezuela’s plight:

    http://www.economist.com/news/leaders/21715658-economy-collapsing-nation-war-government-blame-venezuelas-leaders

    and

    http://www.economist.com/news/americas/21715694-nicol-s-maduro-draws-wrong-conclusions-economic-crisis-venezuela-crumbles

    • The Economist article isn’t bad for a 5,000 foot overview. However, their insistence on continuing the dialogue and painting the opposition as recalcitrant children for not being grateful that a handful of political prisoners were released (while even more were imprisoned) left me pretty irritated with them. The authors just aren’t close enough to the real situation to understand the real political dynamics.

  2. My business is oil tanker chartering and offshore oil. This is my bread and butter!

    The article mentions one Aframax tanker that has been delayed for over 100 days (since sometime in September of last year). An Aframax charters for around USD 25,000 per day. So once PDVSA finally gets around to cleaning the spilled oil they will have to pay the demurrage bill which is now at least $2.5 million and counting before the owner delivers the cargo Unless the demurrage is paid the owner will lien the cargo and PDVSA will not be paid for it.

    When things go south they really accelerate.

    • Could you explain something to me? Who stops the tankers from leaving?

      For example, they mentioned one tanker bound for China. Is it known the Chinese port will not accept the tanker? Does the owner of the ship and their hired crew refuse to get under way? This is my assumption, but some of the ships are owned by PDVSA. Is Venezuela simply unwilling to break maritime law? That would be surprising.

      On an unrelated note, in the case of ships being sent to China in order to pay off loans with oil, maybe the government isn’t in too much of a rush to to get things moving 😉 Seems like oil being exchanged for USD would be a higher priority.

      • They cannot leave because you cannot enter International waters with a dirty ship, and I’m sure the ship owner does not want to risk getting caught breaking maritime law.

        Venezuelan ships tend not to leave the country, because if they enter a foreign port they can be seized by companies that they owe money to. This has already happened by the way.

        PDVSA also sells their crude in Euros, not USD. Chavez was the one that implemented that years ago to distance himself from the US.

  3. The shit is getting deeper. In San Tome they don’t have cars to check on wells. Jose is a vast “chatarrera”. Production is down 300.000 BPD, if we take out private production, the percentage drop of PDVSA production must be staggering.
    The movie is titled: The last days of the PDVSA empire.

  4. There are a handful of countries on earth that can be best described as “An army with a country” (versus a country with an army”). Examples such as North Korea and Myanmar come to mind.

    Sadly, it seems like Venezuela is now in that company. The state, citizens, government, and all the resources belong to and work for the army.

    One can only hope for a coup to get out of this jam.

    • A coup in a military dictatorship results in…a military dictatorship. It may be a likely outcome, but it is not, as far as I can see, any fix. It is just a pretext for additional repression. What Venezuela needs is rule of law and government with the democratic consent of the people.

      • “Military dictatorship! They’re gonna kill us all! Eeeeekkk! Aaauuugghhh! Don’t let the military do ANYTHING against the regime because they will fuse into HitlerVidelaSomozaPinochetGómezMPJ and the nazis will come riding velociraptors to kill and eat our babies!!!!!1111!!1”

        God. F*****g. Damnit. Man.

        People are dying by dozens EVERYDAY. MURDERED by the regime’s enforcers.

        People are starving, because of the regime’s enforces.

        People are dying from stupidly easily curable diseases BECAUSE THE REGIME’S ENFORCERS.

        All of this because the f*****g regime’s nomenklature is hoarding ALL the country’s assets to buy f*****g coccaine and stuff their bank accounts.

        Dude, this can’t be ANY EFFIN’ WORSE, waiting until resolving this through an election to elect who? ROSALES THE NEW SOLDOUT TRAITOR? Do you actually think ANYTHING coming from an election against chavismo will serve for anything at all?

        Geez, no wonder why this regime stands after a decade and half of fucking starving and salughtering their people.

        • This is the problem with professional tyrants — they are amateur thieves. They lost sight of the value of their thefts long ago and don’t know how to do anything except compulsively repress.

          Professional thieves would not have killed the “golden goose” and would have retired as soon as their personal price was met…but that’s a [semi] utopian fantasy.

    • It would not be the first time in Venezuelan history if a pro-democracy group of officers decide to give a coup and stage a transition.

      Unfortunately what seems to be thin on the ground this time is any group of pro-democracy officers

      • its is Venezuela only hope. that is – a coup. At this stage, King Maduro, his Tribunal Court Jesters, marxist collectivos, and Military bachaqueros have the country by the huevos…. and are tighten them as I type.

  5. Speaking of the miltary as if they were a unified group is fantasy , they include many different groups with different agendas , loyalties ambitions personalities rivalries and fears …….they couldnt stage a coup if they wanted to because they lack any trust among themselves , its every group for it self and if anyone tried a coup it could never trust the others to follow …and might be left alone holding a hot grenade …..they would also fear a mass public response and the loyalty of the troops !!

    Of course it can also happen that if you have someone bold and corageous (or crazy) enough to launch a coup and there was some possibility that it might triumpth then every one would join it for fear of being left behind …..herd style….there is plenty of corruption but i think there is more fear and love of comfort than venal passion in what motivates their behaviour ….!! Do remember they are more bureaucrats than warriors !!

    Pdvsa is hopeless , rotten to the core , incompetent in all respects , totally subordinate to the crazy demands of the regimes political big wigs , When Ramirez was arround because he held a position of political importance Pdvsa had some cloud in getting some basic things done…..if ony to protect their asses …now even that is gone ……!! performance is becoming worse because without any money to carry out even the most basic operational tasks then there is a deepening spiral or feedloop of failed activities making recovery well neigh impossible ……..!!

    The only hope is for a fast and decisive regime change !!

    • Hello Bill,

      How do you see this Gordian knot being solved?

      Chavistas in power will only leave through violence.

      MUD is inherently incapable and unwilling of a violent response, to which I agree. They have proven that Venezuela is in a dictatorship.

      Street riots are uncontrollable and unpredictable. Heck Cuba, North Korea and Iran wallow in their mess for generations and discontent has not dislodged the tyrants.

      The military are the top purveyor of violence in Venezuela when the cards are down.

      How do you speculate this will unfold?

      • “How do you see this Gordian knot being solved?…How do you speculate this will unfold?”

        Anacyclosis gives the answer, and it’s not pretty. The slide through oligarchy into mob rule has never been reversed in all human history.

    • “The only hope is for a fast and decisive regime change !!”

      Over the past couple of years, the MUD has passed up several opportunities to produce this result. The people were ready, but the MUD did not have the moral courage and conviction to declare it and lead it. This is not to say that the change of regime will not come. However, now that the MUD has proved itself incapable of leadership, when the change does come, it will be spontaneous, chaotic, and leaderless (at least at first). This is a far more dangerous and potentially violent scenario than a planned rebellion.

      Nevertheless, like after nine months of pregnancy, that baby is coming, whether the mother or anyone else is ready for it or not!

      • There is no evidence the MUD would implement any significant change in public policy — they can’t. El Pueblo voted for Chavismo every chance they got and they always will regardless of how bad the results. (Observe El Pueblo cheering every time the bullies from SUNDDE destroy a business.)

        The few Venezuelans who disagreed with the public policies of the last eighteen years are long gone.

        • Even as a troll, you aren’t very good at it. Based on the fact that you are making a living doing this, you probably aren’t very good at anything else either.

  6. This has not to do with this story-or maybe it does-I ead this gem in the Sol de Margarita today- ´´Estas declaraciones fueron dadas por los portavoces de los conuqueros de la entidad, luego de participar en la reunión del Comité Territorial Agrícola Socialista, con el director regional del MAT, y los coordinadores del Insai, Inder, Inia Fondas y Agropatria.´´ Agricola Socialista, MAT, Inder, Inia Fondas, Agropatria Socialista? WTF? How many organizations does it take for a couple of old farts to grow a few patilla and some yuca????

  7. Estimado Sr Toro, based on the recent anti-Trump (anti-America) articles in your blog and looking at your silly Twitter feed which lacks all seriousness, I have decided to blackball and shitlist you to my contacts. This means that you, your collaborators and this blog will be flagged as PINKO because I have no other words for you. You are pathetic. This blog is not serious anymore. There is nothing here useful for me and the work I do is a lot more important and serious than yours.You are stubborn and obtuse and I’m starting to dislike you. WTF are you trying to accomplish?

  8. There is a lot of group think here in Crapass Chronicles. This is an anti-Trump blog and by definition anti-American. I really think FT needs to hang it up. There is nothing here except sob stories about bananazuela and delusional anti-Trump banter by ni-nis who never got it right. Nothing serious and interesting and to the usual suspects who hang here I recommend you open your eyes and look elsewhere because this place is dead.

  9. We could simply start by stating that America is a continent and not a country
    The fact that it was divided by the Panama Canal is the result of a technical artifice
    Mr. Trump for all effects is solely the President of the United States of America

    Opposing someone’s opinion doesn’t mean you are opposing the whole country.
    This is a “Bushism” just like: “You are either with us or you are with them” or false dichotomy
    But who cares about facts, right?

    • “Opposing someone’s opinion doesn’t mean you are opposing the whole country.
      This is a “Bushism””

      Actually, that’s more a “chavishm”, the dead megalomaniac was obssessed with the whole “Venezuela=Chávez” fallacy

  10. Its the other way arround. Those who express reservations about Mr Trumps suitability to act as President of the US do so , precisely because the prize and admire the US and what it stands for , If they were anti american they would be celebrating that such coarse primitive narcissist man now can undo much of what the US has achieved as leader of the free world ……., they worry about Mr Trump temperamental unfitness from their love of what america represents to the World !!

Leave a Reply