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OFAC REVOKES GENERAL LICENSE AUTHORIZING CERTAIN TRANSACTIONS INVOLVING IRANIAN-ORIGIN OIL AND PETROLEUM PRODUCTS

JULY 8, 2026 CIRCULAR NO. 15/26 TO MEMBERS OF THE ASSOCIATION Dear Member: OFAC REVOKES GENERAL LICENSE AUTHORIZING CERTAIN TRANSACTIONS INVOLVING IRANIAN-ORIGIN OIL AND PETROLEUM PRODUCTS Reference is made to Circular No. 14/26 of June…

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06/2026 Release calls and open policy years

Member Circular No. 06/2026 1 July 2026 The Association’s Board of Directors, and the Boards of its subsidiaries, have determined that the following procedures and factors shall be followed when determining the Release Call percentages…

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London P&I extends growth in business volumes, revenues and free reserves to continue positive multi-year momentum

London P&I is pleased to announce its financial results for 2025/26, reporting an operating surplus of US$21.2m, increasing year-end free reserves to US$192.4m.   The results followed an increase in the club's premium base across…

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Aries Marine Hosts Exclusive Industry Gathering in Porto Heli during Posidonia 2026

As part of the Posidonia 2026 celebrations and networking events, Aries Marine Insurance Brokers organized an exclusive weekend gathering in Porto Heli, bringing together valued business partners and close associates from Greece, London, and other…

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Steamship Mutual Publishes 2026 Management Highlights, Demonstrating Strength, Stability and Member Focus in a Challenging Market

Steamship Mutual has released its Management Highlights 2026, showcasing a year defined by resilience, disciplined decision-making and unwavering support for Members amid heightened claims activity, geopolitical uncertainty and an increasingly complex operating environment. The publication highlights…

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Djibouti Code of Conduct Chair condemns renewed piracy surge

 The Chair of the Djibouti Code of Conduct/Jeddah Amendment has expressed grave concern over the resurgence of piracy in the Western Indian Ocean and Gulf of Aden, warning that recent attacks show maritime security gains in…

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No.4 2026/27 – UK Expands Russia Sanctions Regime: Key Implications for Maritime, Energy and Regime: Key Implications for Maritime, Energy and Trade Trade

Tony Paulson Tony Paulson Head of Asia & Corporate Director The Russia (Sanctions) (EU Exit) (Amendment) Regulations 2026 On 20 May 2026, the UK On 20 May 2026, the UK Russia (Sanctions) (EU Exit) (Amendment)…

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CUBA SANCTIONS UPDATES AND ISSUANCE OF EXECUTIVE ORDER 14404

On May 1, 2026, President Donald Trump signed a new Executive Order 14404, “Imposing Sanctions on Those Responsible for Repression in Cuba and for Threats to United States National Security and Foreign Policy” (the “Order”). This…

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INDUSTRY GUIDANCE ON SAFE MANAGEMENT OF VESSEL TRANSIT THROUGH THE STRAIT OF HORMUZ

The industry associations of BIMCO, the International Chamber of Shipping (ICS), the International Marine Contractors Association (IMCA), INTERCARGO, INTERTANKO and the Oil Companies International Marine Forum (OCIMF) have recently released the publication: Industry Guidance on…

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Major shipping organizations issue guidance for safe Hormuz transits

Industry organizations ICS, BIMCO, INTERCARGO, INTERTANKO, IMCA, and OCIMF have joined forces to issue the “Safe Management of Vessel Transit through the Strait of Hormuz” guidance, to help operators safely transit the area. As stated,…

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