Tankers were part of vintage subterfuge fleet of some 160 vessels engaged in shipping Iranian and Venezuelan crude
The UN agency is reviewing claims that IMO numbers are being issued for ships that don’t exist
Things got so bad suppliers declined to deliver fresh food to ships at anchorage, for fear of being sanctioned for doing business with a sanctioned entity, says Ince senior partner Julian Clark
Rising tension between the US and China could again place international shipping at the apex of extra-territorial sanctions and conflict between the two countries
Two and a half years after the US imposed sanctions on Iran and Venezuela’s oil and shipping sectors, implementation remains both haphazard and ineffectual
Most of global tanker fleet is earning unsustainable, negative rates as sanctions-busting shipments scale up
US sanctioned the Liberia-flagged very large crude carrier Oman Pride four weeks after its crew abandonment case was resolved
This is the only Liberia-flagged ship on Ofac’s blacklist for violating unilateral US sanctions on Iran or Venezuela
Indonesian government has reintroduced sanctions for producers failing to meet their domestic market sales obligation, with 34 companies currently banned from exporting coal
P&I coverage for more than 160 tankers shipping billions of dollars of sanctioned crude through some of the world’s busiest waterways ranges from a company with a GoDaddy website in Bulgaria to a Dubai-based club that retrospectively cancelled cover for one of its entered tankers involved in a serious oil spill
‘I imagine the willingness of Cypriot officials to enforce unilateral US sanctions comes down to diplomatic pressure from Washington,’ says a Washington DC-based consultant specialising in sanctions policy. ‘But I don’t think folks at the State Department will be eager to twist the arms of Cypriot officials’
Owners have found corporate workarounds to keep crude flowing even as the Greek Union of Shipowners discourages its members from returning to the trade
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