Allied fuel dispute ignites

Globus Maritime is gearing up for a legal campaign against Greek charterer Allied Maritime following a bunker dispute that led to the arrest of its youngest supramax bulker.

Nasdaq-listed Globus says it was forced to cough up cash to secure the release of the 56,867-dwt Star Globe (built 2010), which was seized in Panama by a supplier that accused Allied of failing to settle a fuel bill.

In addition to the payment of invoices and legal costs, the Athens-based owner has dipped into its own pocket to cover a claim tied to a second bunker company that threatened to arrest the same vessel over a similar dispute.

“Following these payments amounting to $593,537 in total, the arrest of the vessel has been lifted,” Globus told investors in a statement Wednesday. “The company is currently considering its legal options to recover the amounts paid, in addition to all other amounts owed by the charterer."

The company did not identify the bunker suppliers by name and failed to indicate whether it intends to commence arbitration against Allied, as it claims the counterparty violated the terms of a charter contract by failing to refuel and for returning the vessel outside a predetermined redelivery area late last month.

As TradeWinds has reported, Allied Maritime, which boasts ties to Greek shipowner Dimitris Marinis, fixed the Star Globe for six to eight months in May 2011 at a rate of $15,000, according to securities filings.

Today, shipbrokers said Pacific Basin agreed to shell out $13,000 daily to pick up the ship for two laden legs out of Puerto Cortes. The deal follows hot on the heels of announcement in which Globus first shed light on the battle over bunkers.

Allied Maritime, which is based in Athens where it oversees its own fleet of seven bulkers, could not be immediately reached for comment on Wednesday.

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