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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


From the News Desk: Tankers on fire and the future in flux

With the energy markets in flux and so many macro-economic unknowns colouring daily decisions there is an overwhelming need to make sense of it all. Well, don’t worry, we have you covered — take a read through our expert analysis of the current tanker spike and then book yourselves into a selection of the Lloyd’s List Outlook events coming up

Unipec joins Exxon embargo on vessels linked to Venezuela

Unipec, the world’s largest dirty tanker spot charterer, appears to have halted chartering vessels that have had any business links with Venezuela, including port calls, within a 12-month period. The move, which matches the same decision by ExxonMobil last week, comes amid already tightened tonnage and 11-year tanker rate highs

Novatek considering Arctic LNG transhipments owing to US sanctions

Novatek’s Arctic LNG export facility is currently serviced by Cosco-affiliated vessels

Tanker rates run continues as earnings climb 10%

Average time charter equivalent earnings for the fleet of some 779 very large crude carriers have tripled since the September 25 US sanctions on two subsidiaries of the Chinese shipping giant Cosco

Tanker rates soar as two-tier market evolves over sanctions exposure fears

Suezmax rates are averaging the highest in more than four years, while  very large crude carriers are attracting record sums on the US Gulf-Asia route

VLCC earnings hit $100,000 as sanctions bite

With heightened geopolitical risk and improved market sentiments, brokers expect the market to remain strong throughout the winter and into 2020

Cosco parent begins marine insurance exit from London as sanctions bite

The shift to China from Europe comes amid intensifying contagion fears among banks, class societies, charterers and bunker suppliers about exposure to unilateral US sanctions on Iran because of Cosco’s ambiguous and opaque ownership structure

Cosco sanctions are not holding back Yamal exports, says Novatek

Cosco Dalian, which is subject to the US sanctions imposed last week, holds a major stake in China LNG Shipping — the business unit co-owning with Teekay LNG liquefied natural gas carriers that are on long-term charters to Yamal LNG

From the News Desk: Sanctions shockwaves create volatility, but also opportunity

Last week’s US sanctions on two Cosco Shipping Energy Transportation subsidiaries sent shockwaves through the market, triggering tightened supply and opportunities for the more nimble players. But amid the noise and political fireworks let’s not forget the crew or the longer term projects of decarbonising our future and creating a more balanced industry

Shipping industry moves to mitigate sanctions risks

Last week the tanker market was thrown into chaos as oil traders sought alternative ships and insurers withdrew cover because of the US government’s Office of Foreign Assets and Control blacklisting six companies for allegedly shipping US-sanctioned Iranian crude and gas

Teekay tanker joint venture ‘blocked’ by sanctions on Cosco units

Teekay assesses impact of sanctions on the $2.1bn fleet of ice-breaking LNG carriers it co-owns with China LNG

Sanctions spark short-term bullishness for VLCCs

Very large crude carriers could benefit from replacement demand, although the recent spike in freight rates may melt away in the longer term

See All
Lloyd's List Sanctions