Venezuelan state-owned PDVSA is seeking to extend the contracts of three petroleum tankers, and hire five additional tankers, to compensate for the loss of vessels due to US sanctions, according to sources and PDVSA reports. “PDVSA requires as soon as possible three vessels for LPG, two Aframaxes, two Panamaxes and one long-range [LR1] vessel,” an official of PDV Marina, a PDVSA shipping company, told S&P Global Platts on condition of anonymity. While PDVSA is not able to work with some shipowners because of sanctions, “we will continue working with those who take risks despite the US sanctions,” the official added. On January 28, the US unveiled sweeping sanctions on PDVSA, imposing an immediate ban on US exports of oil to Venezuela and setting up a de facto ban on US imports of Venezuela crude. The […]