Italian bank UniCredit has failed to win a $24.7m claim for damages against Euronav after alleging mis-delivery of a fuel oil cargo in a wider fraud case.
The lender had financed the purchase by Gulf Petrochem of 80,000 tonnes of low sulphur fuel oil from BP in 2020, to be shipped on the Belgian shipowner’s 161,000-dwt suezmax Sienna (built 2007).
