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.
Leaked charterparty hints at premiums earned on sanctioned trades
Sanctioned trades are a risky, but potentially profitable business. Leaked documents offer anecdotal evidence as to what shipowners engaged in Iranian trades earned in 2021 and 2022
First test of UK shipping sanctions as Russia-loaded tanker sails for Port Said
Fighter Two previously transferred its latest Russia-loaded cargo to another tanker in mid-June for onward shipment to India, with any similar transfer post-sanctions testing the effectiveness of the UK enforcement measures on tankers breaching the G7 oil price cap on the federation’s oil and shipping sectors
EU sanctions on Russian LNG could increase its imports
A research paper by the Oxford Institute for Energy Studies said the EU’s latest sanctions could create contract disputes, but would not reduce the bloc’s supply of imported Russian LNG
Week in charts: Box rates still historically high, Iran’s tankers double down on concealment efforts and Port of Los Angeles volumes on the rise
Greg Miller asks whether container shipping rates have peaked, read how Iran’s tankers are continuing to conceal themselves and the Port of Los Angeles volumes are rising
Hong Kong a key hub for sanctions evasion, report claims
A report authored by non-profit Committee for Freedom in Hong Kong Foundation has named Hong Kong as being a hub for sanctions-busting activity and dealing with Iran, Russia and North Korea
Hafnia prepares to tow damaged tanker to safe port
There are no visible signs of flames or smoke on Hafnia Nile
Malaysia Coast Guard intercepts ‘dark fleet’ tanker Ceres I involved in collision off Singapore
As the investigation continues, traces of oil spillage have been discovered
Iran’s tankers double down on concealment efforts post-sanctions
Analysis of satellite and AIS data shows these ships still play a role in Iran’s oil sector, but experts insist the financial restrictions are nonetheless degrading Iran’s capabilities
Irregular AIS tracking seen with serial ‘spoofer’ Ceres I before Hafnia Nile collision
The collision between Ceres I and Hafnia Nile took place in eastern waters of Malaysia, which is a well-known area for storage and transfers of oil. At the time of the casualty, more than 40 ships were at anchorage. It is commonplace in this area for vessels to be detected switching off vessel trackers or spoofing their location
Shipping safety has become a casualty of economic sanctions
It was never the intention of economic sanctions to undermine shipping safety, but that has been the result. Politicians are keen to halt the trail of dirty money leaking from dark fleet tankers. But where is their plan to stop clapped out ships leaking noxious cargoes onto European coastlines?
Investigators start to examine collision that sparked fires on Hafnia tanker and sanctions-busting VLCC
One of the ships, the 23-year-old Ceres I, is among the dark fleet tankers and has long been used for facilitating Iranian trade, engaging in storage and ship-to-ship transfers, based on information collated by Lloyd’s List
UK leads 45-country coalition crackdown on ‘Russia’s shadow fleet’
The prominence given to tackling maritime sanction evaders at the historic summit places the dark, or shadow, fleet at the forefront of government foreign policy initiatives across the UK and Europe to support Ukraine
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