Legal tactic has also been used to seize crude and refined products cargo on foreign-flagged vessels accused of breaking US sanctions on Venezuela and Iran over the past two years
Removal of the sanctions, fully reimposed in early 2019, would allow Iranian crude exports to officially resume and remains one of the largest wildcards facing tanker owners
Ships are not part of Iran’s state-owned fleet but performing the same role, says non-government organisation, noting vessel numbers rose from 70 at end of last year
China projected to import more than 1m barrels per day of Iranian crude in April, the highest monthly volume since sanctions were fully re-imposed in mid-2019
There are 75 tankers now registered with 17 flags of African countries, or Pacific or Caribbean islands with little technical expertise or large vessels in their fleets, Lloyd’s List Intelligence data shows
Fujairah International Oil & Gas Corp told the US District Court for the District of Columbia that the US government seized the property ‘while subject to coastal state authority in a foreign nation (UAE) aboard a foreign-flag vessel and while subject to a supply contract governed by UAE law.’
The United Nations is warning about the dire situation in the Yemen, especially concerning the lack of fuel
Weak tanker freight rates see some Greek shipowners return surreptitiously to shipping Venezuelan cargoes betting that sanctions enforcement will be laxer under President Joe Biden
Lawyer for undisclosed Beirut-based owner says tanker was carrying Iraqi crude, not Iranian. Satellite images show the tanker at Kharg Island on January 15-17
The complaints said several defendants used a Hong Kong-based front company to secretly buy two oil tankers valued at more than $50m
US says the Nord Stream 2 natural gas pipeline aims to bypass Ukraine, depriving it of substantial transit fees while undermining Kiev’s struggle against aggression by Moscow
The country’s move to diversify its sources of crude oil to meet growing demand indicates growing trade flows to the country in the short, medium and long term. This will only boost tonne-mile demand for tanker sector Gibson shipbroker argues
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