Shipping struggles under burden of ‘confusing and disruptive’ sanctions | Marine insurers to meet US officials on Russia oil price cap | MSC to launch air freight business

Commentators complain that ‘chaotic’ sanctions need extensive compliance departments beyond the scope of most shipping firms

‘It is for the governments themselves to make regulations, but the more they can engage with industry before those regulations come in, the more they will understand the possible unintended consequences,’ says International Group chief 

Partnership posts second-quarter earnings in line with expectations

Unctad secretary-general opens the Global Maritime Forum with a call to action for greater numbers and bigger sizes of ships to transit via the Black Sea as major shipowners have mostly been reluctant to commit newer, larger vessels

Industry attempts to amend EU carbon market amid delays | Why shipping’s poor progress report requires high-level attention | EU weakens Russia coal ban to combat food and energy insecurity | Marine insurers in the dark over Russian oil cap details

The latest pronouncement clarifies that London insurers and banks can now provide insurance and trade finance under licence. However, the differences between European, US and UK sanctions and the lack of clarity about what to do if there was a US-designated entity somewhere in the chain will almost certainly curb any appetite for business 

Industry leaders will, once again, call on the industry to come together this week and set more ambitious targets, implement clear standards, and enforce stronger technical and market-based measures. But has the script changed since last year and is progress really being achieved in shipping’s energy transition?

Backdown on coal exports made to avoid ‘potential negative consequences’

Marine insurers discuss Russian incursion as part of Chicago gathering, with some analysts now predicting defeat for invaders in matter of weeks

The leap in aggregate gross calls reflects harder market conditions and a concern over cover. However, the question of adequacy is a matter for individual affiliates

China, India and Türkiye are the main markets for Russian steel exports against the backdrop of sanctions

Marine insurance premiums seeing healthy growth amid uncertainties | Marine insurers avoid substantial Ukraine CTL payouts so far | Investment in LNG could result in close to $1trn of stranded assets by 2030

Cuba is importing its third cargo of Russian crude in three months on three Sovcomflot-owned aframaxes

Most major shipowners are still unwilling to run the risk of engaging in Ukraine grain trades, despite declining war risk premiums and a call by the UN to see large vessels ramp up exports

U-Ming said the charterers have paid freight in full, demurrage and the majority of detention which continues to accrue