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
Madagascar flags fraudulent ship scam
Madagascar’s government has flagged a problem with fraudulent ship certification being issued in its name. It joins a growing list of African states being used by scammers to provide fake cover identities to sanctioned vessels
The Week in Charts: Cameroon pledges flag crackdown | APM Terminals and Eurogate unveil €1bn Bremerhaven plan | EU sanctions will complete Russia’s shadow fleet shift
Lloyd’s List’s weekly showing of the data and figures behind our news, analysis and markets coverage
Cameroon pledges flag crackdown amid shadow fleet surge
Cameroon’s government-run ship register has been booming as a result of other flags ejecting sanctioned tonnage under pressure from the EU. Now the Yaoundé government is under pressure to crackdown as well
Flag state guidelines will add scrutiny but will not fix failing registers
The IMO is considering how to stem the misuse of flags and deter fraudulent registration and fraudulent registries of ships, but the guidelines about to be considered will not be legally enforceable and are expected to run into sanctions-related resistance
Effect of geopolitics on shipping poised to escalate, so ‘buckle up’
There are so many geopolitical ‘black swans’ in shipping that they might as well be white. Disruption is now the rule, not the exception. Speakers at the HACC-NACC conference in New York laid out the risks ahead
EU sanctions plan will complete Russia’s shift into the shadow fleet
The EU’s shift away from an oil price cap system that allowed compliant Russian trade to a complete ban is yet to be finalised and details need to be agreed. But if it is imposed it will mean that companies with a European nexus will not be lifting oil cargoes out of Russia
Ofac sanctions bulk carrier involved in illicit Iranian fertiliser trade
The trade was used to finance Lebanese paramilitary group Hezbollah, the US Treasury said in an announcement
The Week in Charts: No shortage of targets for French interdiction | Container shipping prepares for old ships shake out | Shipping shares outperform broader stock market
Lloyd’s List’s weekly showing of the data and figures behind our news, analysis and markets coverage
US forces board runaway tanker
Tanker tracked from the Caribbean Sea to the Indian Ocean by US forces before it was boarded overnight
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