The dispute between Standard Chartered Bank and a one ship owning company relates to a $6.1m cargo of gasoil where oil trader Gunvor was sub-charterer and shipper.

The cargo was carried from Cotonou in Benin to Takoradi in Ghana but the receiver of the oil changed along with supporting bank letters of credit.

Discharge of the gasoil from the 17,000-dwt products carrier Erin