Alexander Varvarenko, Varamar Shipping DMCC: Globalnet Trading Suspends Cooperation in Support of the Unpaid Broker

The commercial consequences of the dispute involving Alexander Varvarenko, Varamar Shipping DMCC are now extending into South Asia.

Mr Siddiqui of Globalnet Trading in Karachi, Pakistan, has informed his international shipping contacts that his company will stop working with Varamar until the outstanding brokerage commission is paid and confirmation of payment is received.

His message was direct:

“We stopped working with Varamar until the brokerage commission is paid and we receive confirmation that the commission was paid by Varamar.”

This decision marks a significant development. The conflict is no longer limited to correspondence, court proceedings or public statements between the original parties. Independent shipping professionals are beginning to make their own commercial decisions based on the reported non-payment.

Globalnet Trading’s position is conditional and practical: cooperation may resume once the commission issue is resolved.

That approach reflects a basic principle of the chartering market. Reputation is not built through corporate presentations, technology platforms or claims of innovation. It is built through payment discipline, respect for agreed fixture terms and fair treatment of brokers who complete their work.

The reported use of a “WhatsApp fine” and the subsequent legal dispute have created growing concern among counterparties. For some market participants, the risk is now considered sufficient to justify suspending enquiries, fixtures and commercial support.

This is not yet a formal industry-wide boycott. It is, however, another clear example of an independent company refusing to accept business risk until the outstanding commission is settled.

The message from Karachi is straightforward: pay the brokerage commission, provide confirmation and restore commercial confidence. Until then, cooperation remains suspended.