Bernhard Schulte Shipmanagement (BSM) has denied claims from Venezuelan authorities that a tanker crew has been arrested following the discovery of drugs.
The 47,000-dwt Jose Progress (built 2009) has been held at Puerto la Cruz after 147kg of cocaine was found on 7 October.
BSM told TradeWinds: "The vessel remains in detention in Puerto La Cruz and all our crew remain on board.
"They continue to give full co-operation to the Venezuelan authorities and police in their investigations into this matter.
"BSM is giving full support to our crew and continues to assist the ongoing investigations in Venezuela.
"We hope the matter will be resolved as soon as possible and we believe all our crew will be exonerated and be free to leave once the investigations have been completed."
Local media had cited the country's prosecutor's office as saying 13 Filipinos, three Russians and a Ukrainian on board had been arrested and charged with trafficking offences.
Three Venezuelans not from the vessel had also been arrested, according to the statement cited by El Universal website.
The prosecutor's office said the seizure was made in Jose Antonio Anzoategui Bay, when anti-drug officials of the national guard carried out a routine underwater inspection.
After closed-circuit monitoring, inspectors noticed that several bags were hidden in a suction grid on the port side of the ship.
They yielded 124 packs of cocaine, some of which were labelled "Gucci".
The vessel was said to be heading for Belgium.
In most cases of drugs smuggling, crew are not involved.
A survey by seafarers' union Nautilus International has shown many fear crimininalisation while going about their duties.
