The $60 oil price cap — which comes on top of the EU import ban on Russian seaborne crude oil and oil products, and the corresponding bans of other G7 partners — is intended to reduce the revenues Russia earns from oil. But what does this mean for shipping?
P&I Clubs argue that meeting Turkish requirements on insurance cover would land them in breach of sanction regulations
Aframax tanker Lana was seized off the coast of Piraeus at the behest of the US. The vessel was said to have loaded crude oil at Iran’s Sirri Island in mid-2021. The aging vessel has now docked at Syria to unload
From a blatant disregard for seafarer welfare to failures of technical and regulatory oversight — this list has it all. The ‘Dishonourable mentions’ will become a regular feature of our Top 100 list, so nominations and feedback are welcome...
Russian tankers and dark-fleet vessels accounted for 44 out of 172 voyages monitored, revealing a serious shortfall of available tonnage after December 5 if shipments do not conform with an as-yet undecided oil price cap
Jefferies equity analyst Omar Nokta raises rate estimates and company stock price targets as he expects tanker markets to remain tight
The US sanctions gatekeeper has made sanctions compliance increasingly complex, with fresh regulations on Russian oil trading and shipping, as well as existing bans in Venezuela and Iran
A massive fleet sale to pay back Western bank loans and moves to honour bond payments despite sanctions suggests Mr Tonkovidov is trying to plan for a return to the international market in the future, though the Russian tanker giant’s ability to trade has been significant curtailed
Half of all tanker sales so far this year are estimated to have been purchased for the trading of Iranian, Russian or Venezuelan cargoes
Freight costs for shipping crude to Europe from the US comprise 11% of the delivered crude price. This is up from 3% in February, data shows
Bans on Russian seaborne crude imports to Europe begin December 5 witih refined products banned from February 5
Fleet consists of more than 500 tankers over 34,000 dwt, defined owned by national fleets of Iran, Russia or Venezuela or anonymously owned and engaged in sanctioned trades
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