Anangel Ship Manager Named in Fuel Theft Scheme

Though it is certainly a publicity nightmare, a criminal indictment against the ship manager of Anangel-American Shipholdings Ltd. is expected to have little long term effect on the company.

Anangel Shipping Enterprises S.A. of Panama pled guilty to falsifying fuel reports for the ship the Anangel Leader to the Military Sealift Command during operation Desert Storm. The ship was arrested in Alaska, and the company agreed to pay $1 million to the US and pay $85,000 in restitution rather than have the ship tied up in a lengthy court battle that might keep the ship under arrest for weeks. The company is subject to a further $500,000 fine.

While the company is refusing to comment on the case, Marine Money has learned that Anangel Shipping Enterprises has agreed to indemnify Anangel-American for any losses, past present or future, that it may incur as a result of the action. As a result, there will be no cash impact on the company’s results.

In the documents filed, the chief engineer and master of the Anangel Leader were accused of making false measurements of fuel levels in the ship’s bunker tanks, keeping dual records, and defrauding the United States of money and ship fuel during the charter.

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