Chevron-chartered tankers, originally meant to transport crude oil from Venezuela to the U.S., are now being offered for spot contracts elsewhere. PDVSA’s cancellation of loading permits has prompted Chevron to seek alternative solutions. Delays and uncertainties in returning cargoes have disrupted operations, highlighting the challenges faced by companies in the Venezuelan oil market.
Germany recently seized a dilapidated tanker suspected to be part of Russia’s clandestine fleet evading oil sanctions. The Panama-flagged vessel, Eventin, carrying 100,000 metric tons of oil worth 40 million euros, was intercepted en route from Russia to Egypt. The German finance ministry refrained from detailed comments due to tensions with Russia over Ukraine.
The European Union has expanded sanctions against Iran for supporting Russia in the Ukraine conflict. Added to the list are IRISL and Mohammad Reza Khiabani. Sanctions target ports transporting Iranian UAVs and missiles. Iran’s Ports and Maritime Organization denies accusations. EU also sanctions Russian shipping companies aiding Iran in supplying weapons.
Chinese heavy-lift ships Ocean 28 and Nan Feng Zhi Xing push through thickening ice on the Northern Sea Route to deliver a power plant to a Russian LNG project. Facing delays due to storms and deteriorating ice conditions, their journey highlights the risks and challenges of Arctic shipping, raising safety concerns.
Novatek, a Russian LNG producer, defied Western sanctions by sending the Everest Energy tanker through the Northern Sea Route. Despite lacking proper permits and sailing under a defunct flag, the vessel completed the journey to Asia. This risky move showcases Russia’s determination to market LNG in the face of sanctions and challenges in international shipping.
Palau suspends flags of Russian LNG tankers, halting operations due to AIS signal tampering. Investigation shows potential cargo losses and challenges for Novatek. Delays impact marketing efforts and finding buyers for sanctioned cargo from Arctic LNG 2 project. Complexity and restrictions in LNG shipping industry highlighted. Shadow fleet remains inactive in Russian waters.
The G7 countries, led by UK Prime Minister Kier Starmer, are ramping up pressure on Russian oil tankers, with 11 more vessels facing sanctions. Despite disruptions for targeted tankers, overall oil supply and freight costs remain stable. Moscow’s shadow fleet is limited, forcing potential reliance on Western-owned ships. Uncertainty looms over the future of the tanker market and global shipping industry.
A cargo ship from Russia previously held in Germany on suspicion of violating sanctions can now freely leave the port of Rostock, as confirmed by the Stralsund main customs office. The Atlantic Navigator II was carrying birch wood for the US, subject to EU sanctions but not US sanctions. Prosecutors revealed further details about the ship’s operations and detainment.
A new round of US sanctions targets owners of LNG tankers at a South Korean shipyard intended for Novatek’s Arctic LNG project. Sanctions complicate shipping operations further. Elixon Shipping, Azoria Shipping, and Glorina Shipping, based in Cyprus, face sanctions. Novatek faces challenges securing transportation capacity for its Arctic LNG 2 plant.
The U.S. Treasury Department and the United Kingdom have imposed sanctions on four senior members of Ansarallah, also known as the Houthis, for their involvement in attacks on merchant vessels and civilian crews. These individuals have disrupted international supply chains and threatened global security, leading to the joint action to stop these attacks.
Following Stories compiled in this News Digest for the week from 06 Jun 2022 to 12 Jun 2022 in descending…
