Sales and purchase brokers note trend of elderly tanker tonnage being sold to anonymous buyers for sanctions busting

Until mid-2020 Greek ships transported 80% of cargoes from the South American country, but drastically reduced exposure after US sanctions briefly imposed on four ships owned by prominent Greek families

The 2001-built Dazzle has undertaken two ship-to-ship transfers off Malaysia, and changed flag and name four times in 16 months

Ofac noted that Iranian petrochemical sales remain a key revenue source for the regime, which benefits from a global network of entities facilitating the Iranian petrochemical sector. Parties involved in the sales as well as the brokers and myriad financial intermediaries were all slapped with sanctions

The chief effect of Mr Biden’s approach on tariffs and sanctions will likely be calmer seas ahead, while that of Mr Trump will be for the maritime industry to batten down the hatches for another four years

Removals follow letters to Tanzania’s Zanzibar Maritime Authority from a US-based NGO, United Against Nuclear Iran

The wide-ranging sanctions hit important elements of the Iranian oil sector, including the Petroleum Minister Bijan Zanganeh. The US State Department last week targeted six Chinese entities for links to the Islamic Republic of Iran Shipping Lines

The 1993-built sanctioned tanker Icaro appears to be heading to the stricken floating storage unit Nabarima, which is laden with crude from the Corocoro field, Lloyd’s List Intelligence data shows. Two tugs are also near by

Victims of cyber attacks ‘may not have done anything wrong, but they are in a position where they can’t make the payment,’ says HFW partner

American expectations that marine service providers share unsubstantiated information about possible sanctions-busting vessels is a ‘kiss of death’ for innocent shipowners, says International Group

Shipping companies and organisations have received a sharp wake-up call as to the threat of cyber attacks, with several affected in the past few weeks alone. In response, the US Department of the Treasury’s Office of Foreign Assets Control has issued advisories highlighting the increased sanctions risks associated with ransomware payments

Lloyd’s List and industry experts discuss the updated US Office of Foreign Assets Control sanctions guidance and how any organisation with exposure to shipping or cargoes needs to understand, identify and mitigate the risk to their operations