The relatively swift removals of the vessels from the Ofac blacklist will have underlined the upside to co-operating fully with US sanctions, according to observers

The owner of four tankers alleged to be carrying Iranian gasoline for Venezuela has spoken of his dismay at how the vessels became embroiled in US sanctions. ‘We are not going to break sanctions and we will obey the law,” Capt George Gialozoglou tells Lloyd's List

The four vessels have turned off their identification systems since May and their whereabouts are unknown, but it is unclear how they might be seized unless they enter US territorial waters

Four companies benefit — Thenamaris, NGM Energy, Chemnav and Eurotanker

Caracas Capital Markets, a US-based investment firm that tracks Venezuela sanctions links, used vessel-tracking data and court documents filed in Houston to detail subterfuge and obfuscation

Freight derivative volumes exceeded 65,000 lots last week, the highest level seen since the height of the financial crisis in 2008, while tanker earnings have seen a sharp fall as crude exports decline and rising Latin American coronavirus cases dent a bounceback in demand

A total of 28 tankers are laden with Venezuelan crude and either in floating storage or are sailing have yet to discharge, according to Lloyd’s List Intelligence data

US Treasury Secretary Steven Mnuchin says Iran's support for the 'authoritarian and corrupt regime in Venezuela' is unacceptable

In the dry bulk sector, capesize earnings continued their momentum, rising to the highest level in nine months as optimism spread

Afranav Maritime statement, provided in writing to Lloyd’s List, echoes similar pledges made by Dynacom Tankers, NGM Energy and Thenamaris

Regulators caught blind-sided as confidential and secure long-range ship tracking data is put on the market by a supplier arguing that US sanctions guidance has opened up a loophole allowing access at a price