Paris-headquartered
Bourbon Offshore has blacklisted
Monjasa DMCC from being its bunker service provider, according to Danish media outlet
Finans.
In documentation dated 9th August, Bourbon is said to have stated that the decision is the consequence of a recent court conviction in Nigeria in which a chartered vessel and 14 crew members were found guilty of illegal bunkering.
"As a result of a decision by a federal court in Lagos in Nigeria, which sentenced Monjasa DMCC for illegal bunkering, Bourbon, consistent with our internal policies, will no longer continue working with this supplier, either directly or indirectly.
"As a consequence, we must ask you not to act with Monjasa DMCC, either directly or indirectly, pending further instructions," Bourbon said.
The French offshore oil service specialist is reported to have stated that it will take the necessary precautions and discontinue cooperation with business partners who deal with Monjasa DMCC.
Monjasa has publicly maintained its innocence following the conviction. Company director
Anders Ostergaard was informed about the Bourbon blacklisting on Thursday, Finans reports. He is said to have denied that the Bourbons blacklisting will have a significant economic impact on the business.
In June, Monjasa Group reported that net profit grew by $2 million, or 9.1 percent, to $24 million in 2015.
The volume of marine products sold rose from just under 3.9 million metric tonnes in 2014 to over 4.1 million metric tonnes last year, representing an increase of 6.8 percent.
Total revenue between January and December declined by $600 million, or 27.3 percent, to $1.6 billion, down from $2.2 billion the previous year.
Monjasa has offices in Denmark, UK, US, Panama, Cyprus, Dubai, Namibia and Singapore. It recently received the Dubai Multi Commodities Centre (DMCC) Award for Best Maritime Company 2016.
Bourbon specializes in the offshore oil and gas industry and has a fleet of more than 510 vessels and 34 operating affiliates.
On 3rd August, Bourbon posted a 21 percent decline in revenue (EUR 599.2 million) during the first half of 2016, year-on-year, and a 11.7 percent drop compared to the second half of 2015.
"Bourbon is the most resilient OSV company in the market and has been impacted, however less and later, by the deep reduction in the level of activity of the oil companies following the sharp and sudden reduction of the oil price," the French firm said in its financial results summary earlier this month.
