The vessel reported by UKMTO on Monday as being attacked has been confirmed as containership MSC Sarah V (IMO 9181675) – attacked 246nm southeast of Nishtun, Yemen. The Captain of the vessel reported an explosion…
For the first time the EU is targeting specific vessels part of Russia’s dark fleet created to circumvent the oil price caps. In total the latest measures include designation of eleven crude oil carriers and…
The US on Thursday December 7th imposed sanctions on 13 individuals and entities, stating that they had funnelled tens of millions of dollars in foreign currency to Yemen’s Houthi group from the sale and shipment…
Re/insurer Brit is reported to be planning to pull out of the marine liability sector. Only last month it became known that Brit had withdrawn from the space market. The marine liability segment included: Protection…
Trader’s wet freight boss sees geopolitical and demand issues as potentially clouding positive outlook. Swiss trading and shipowning giant Trafigura Group has logged strong profit in its latest financial year, but market clouds may be…
Noticeable change in tone since the Autumn says NorthStandard’s Mike Salthouse. The US and European Union are increasingly shifting the emphasis of their sanctions programme against Russia to enforcement, says NorthStandard head of external affairs…
Fresh attacks on vessels in the Red Sea are raising insurance premiums for ships in the region and menacing commerce in a conduit for 12% of world trade. Rising insurance premiums highlight growing risks in…
The US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) recently issued 4 general licenses suspending certain sanctions in relation to transactions involving oil, gas, and gold in Venezuela. [ United States temporarily authorizes…
War risk insurance premiums were raised slightly on Monday December 4th after three commercial vessels were attacked in the area on Sunday, reported Reuters, citing unnamed insurance sources. Jakob Larsen, head of maritime safety &…
BIMCO and fellow industry associations have developed two (2) transit corridors for the consideration of Ship Masters, Owners and Operators for Persian Gulf, Strait Of Hormuz and Sea of Oman; these areas continue to remain…
