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Sanctions
With the US administration's "maximum pressure" campaign continuing against Iran and sanctions placed on Venezuela we examine the impact of this sanctions and the pain of them on the shipping industry and wider implications for the maritime community including finance, insurance, law and government
US fails on Iran sanctions enforcement promise as China crude imports escalate
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
Nauru flag targeted by sanctioned shipowner
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 seeks dismissal of US oil forfeiture case
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.’
Yemen’s partial reopening of key port praised by US
The United Nations is warning about the dire situation in the Yemen, especially concerning the lack of fuel
Biden administration ‘committed’ to Venezuela shipping sanctions, says opposition
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
Insurer of Israel oil-spill tanker cancels cover
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
Iranians charged with conspiracy to evade US sanctions
The complaints said several defendants used a Hong Kong-based front company to secretly buy two oil tankers valued at more than $50m
US threatens sanctions over Russian gas pipeline
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
Tankers will benefit from India’s aim to diversify crude oil imports
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
Israel is targeting ships carrying Iranian oil, says WSJ
WSJ report says Israel targeted at least 12 vessels linked to Iran
Maritime Risk Briefing: Why subterfuge shipping requires greater industry scrutiny
Shipping is being subjected to greater sanctions compliance scrutiny and the industry needs to keep up to date with the latest intelligence, red flags and evasions tactics to effectively mitigate risk. The latest edition of Lloyd’s List’s regular risk analysis discussion panel explores how shipping can get caught out in the changing evasions landscape and the red flags raised by regulators, lawyers and insurers.
Substandard flag states targeted as regulatory arbitrage rises
The International Maritime Organization continues to target fraudulent registries and ship registrations
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