The addition of four sanctioned tankers to a fake Malawi flag has taken the number of fraudulently registered ships to nearly 300, a 170% increase in the past 24 months

South Korean builder is seeking damages through arbitration, but says the cancellation will not significantly impact its business backlog or financial outlook

This marks Canberra’s first direct action against ships involved in illicit Russian oil trade. All 60 vessels have already been designated under various Western sanctions regimes, including those of the EU, UK, Canada and the US

Malawi has emerged as the latest flag registry targeted by the shadow fleet, with four UK- and EU-sanctioned tankers broadcasting AIS messages indicating Malawi as their flag. It is not clear whether the Malawi government is aware and has authorised these registrations

The UK government has imposed fresh sanctions on Russia, including 20 ‘shadow fleet’ tankers and two shipmanagers

Trump appears to be unconvinced by EU and UK calls for more action over Ukraine war, but even those EU member states pushing for a stricter regime are balking at the prospect of a two-tier price cap regime

New York-based pressure group UANI has applauded Liberia for its ‘world-class’ compliance programme after removing vessels that appeared on the group’s watch list for moving Iranian oil

Amid Ofac’s increasing scrutiny of Iran’s non-crude exports, a Lloyd’s List analysis suggests almost half of calls captured via AIS to Iraq’s Khor al Zubair port were faked, in what is likely an attempt to obfuscate the Iranian origins of oil and gas cargoes

It remains unclear whether a lowered price cap would be a G7 plan or a solo EU move, but its effectiveness depends on whether the new price cap would be enforced, oil price fluctuations and how a realignment of sanctioned tankers vs shadow fleet and mainstream tankers plays out

AIS draught data and satellite imagery suggest the vessel may not have discharged its cargo during its latest stop in Chinese waters

European Commission proposes cutting oil price cap from from $60 to $45 per barrel, but US support will be key

CCIC’s Singapore subsidiary has been forced to shut down and lay off hundreds of employees after being blacklisted by the US for allegedly facilitating Iranian oil trade, underscoring the far-reaching impact of US sanctions on Chinese companies operating in global energy markets