Sanctions
Sanctions against Russia in response to the country’s invasion of Ukraine continue to mount, while the US administration is reportedly weighing options on both Iranian and Venezuelan sanctions to address the energy gap created by restrictions on Russian oil and gas imports. Lloyd’s List examines 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.
Daily Briefing September 27 2022
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
Shipping struggles under burden of ‘confusing and disruptive’ sanctions
Commentators complain that ‘chaotic’ sanctions need extensive compliance departments beyond the scope of most shipping firms
Dynagas Partners says charters continue to perform
Partnership posts second-quarter earnings in line with expectations
‘We need more ships, we need bigger ships’ to tackle food crisis
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
Daily Briefing September 22 2022
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
EU weakens Russia coal ban to ‘combat food and energy insecurity’
Backdown on coal exports made to avoid ‘potential negative consequences’
Daily Briefing September 21 2022
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
Energy price cap spells confusion for shipping
Lack of detail and clarity on how the price cap would be applied and enforced underscored in US briefings
U-Ming bulker carrying sanctioned cargo remains stuck in Latvia
U-Ming said the charterers have paid freight in full, demurrage and the majority of detention which continues to accrue
Greek standoff with Iran over tanker continues despite stirrings on crew changes
Iran is said to have been pushing Greece for concessions beyond the return of an Iranian oil cargo that was completed a month ago
Tanker owners need not fear Russian oil price cap
A reduction in oil prices would be beneficial in a world facing the risk of a global recession, says analyst Erik Broekhuizen
LNG carrier rates gain as Europe and Asia compete for cargoes
Number of LNG carriers available for spot market charter remains tight, further adding to pressure on rates ahead of winter
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