- As Court orders permanent forfeiture of Diezani’s $37.5m mansion to FG
Bermuda-based Nordic American Tankers (NAT) ended the second quarter of 2017 with a net loss of USD 15.8 million, against a net gain of USD 12.9 million seen in the same period a year earlier.
For the first six months of 2017, the company recorded a net loss of USD 19.3 million, against a net gain of USD 42.2 million reported in the first half of 2016.
The company’s net voyage revenue for the second quarter of 2017 stood at USD 39 million, down from USD 61.6 million reported in the same quarter a year earlier. Net voyage revenue for the first six months of 2017 dropped to USD 94.2 million from USD 138.3 seen in the first half of 2016.
Average Time Charter Equivalent (TCE) for the second quarter of 2017 was about USD 16,100 per day per vessel.
“We do not predict short term spot tanker rates which may be expected to be volatile. Going forward, we believe that NAT is well positioned,” the company informed.
During the second half of 2018, the company is scheduled to take delivery of three Suezmax newbuildings. An amount equivalent to 30% was paid cash on contract signature, while the balance of USD 116 million for the three ships will be paid at the time of delivery. NAT said it has under review a financing arrangement for these three newbuildings.
In the meantime, the Federal High Court in Lagos has ordered that a $37.5m mansion on Banana Island, Lagos linked to a former Minister of Petroleum Resources, Mrs Diezani Alison-Madueke, be permanently forfeited to the Federal Government.
The court also ordered that the sums of sums of $2,740,197.96 and N84,537,840.70 realised as rents on the property should equally be forfeited to the Federal Government.
The orders were made on Monday by Justice Chuka Obiozor, following a motion on notice argued before him by the Economic and Financial Crimes Commission.
The anti-graft agency had on July 19, 2017, obtained a court order to temporarily seize the property designated as Building 3, Block B, Bella Vista Plot 1, Zone N, Federal Government Layout, Banana Island Foreshore Estate, which is said to have 24 apartments, 18 flats and six penthouses.
The court had directed that the temporary forfeiture order be published in a newspaper and then adjourned till Monday for anyone interested in the property and funds to appear to convince the court why they should not be permanently forfeited to the Federal Government.
At the Monday’s proceedings, the EFCC lawyer, Mr. Anselem Ozioko, told Justice Obiozor that the publication order had been complied with.
He, however, noted that despite going the extra length to personally serve the second and third respondent in the case, Afamefuna Nwokedi, and a company, Rusimpex Limited, they did not show up in court to contest the forfeiture order.
“In summary, it appears as if they are not willing to contest this application,” Ozioko said, urging Justice Obiozor to go ahead and order the permanent forfeiture of the property and the funds.
In a short ruling, The judge held, “In the face of the publication, which I find in Exhibit B of the affidavit of compliance before me, and there being no responses from any interested party, I have no other option but to grant the orders as prayed.”
The EFCC had earlier told the judge that the Banana Island manson was reasonably suspected to have been acquired with proceeds of unlawful activities by Diezani.
The anti-graft agency said its investigations revealed that Diezani purchased the property sometime in 2013 at the price of $37.5m, which she paid in cash.
According to the EFCC, the $37.5m was moved straight from Diezani’s house in Abuja and paid into the selller’s First Bank account in Abuja.
World Maritime News with additional report from Punch