The Trump administration has reinstated strict sanctions on Iran’s oil trade, ending temporary waivers aimed at stabilizing prices. These sanctions focus on influential figures like Mohammad Hossein Shamkhani, disrupting Iran’s oil transportation networks. The Pentagon is also enforcing a blockade on Iranian ports, escalating enforcement efforts and complicating maritime trade.
Two Indian-flagged gas tankers have successfully navigated the Strait of Hormuz, transporting liquefied petroleum gas (LPG) from the UAE to India. The vessels, BW TYR and BW ELM, delivered around 94,000 tonnes of LPG amidst ongoing regional tensions, showcasing India’s commitment to securing energy supplies.
Malaysian authorities have detained two oil tankers near Pulau Jarak for allegedly conducting unauthorized fuel transfers. Inspections revealed the vessels lacked necessary permits and were anchored in restricted waters. Approximately 750 metric tonnes of Marine Fuel Oil were transferred. The case is under investigation for violations of maritime regulations.
Two tankers, the Greek-owned Zefyros and the US-owned Safesea Vishnu, were attacked during a ship-to-ship transfer in Iraqi waters, resulting in a fire on one vessel. While 38 crew members were rescued, one fatality was reported. This incident marks the fifth attack on vessels in the Arabian Gulf recently.
The U.S. Coast Guard has dismissed rumors about foreign tankers moving to U.S. markets, stating no registrations have been submitted. Regulatory compliance is necessary for foreign tankers to operate in U.S. waters. Meanwhile, the U.S. is considering a Jones Act waiver to facilitate essential energy shipments amid global shortages.
Two tankers were reportedly hit by unidentified projectiles in the Arabian Gulf, confirmed by UK Maritime Trade Operations. One vessel caught fire, but the crew evacuated safely with no injuries. The second vessel’s details remain unclear. This incident aligns with a pattern of Iranian attacks on merchant ships in the region.
This month, India detained three oil tankers suspected of indirect ties to Iran, prompting increased maritime surveillance. The Iranian National Oil Company denied connections to the vessels. The situation highlights the complexities of enforcing sanctions and the need for stringent monitoring to prevent illicit activities in regional waters.
Two oil tankers linked to Venezuela’s oil sector were detained in the Dutch Caribbean due to serious safety violations. The Regina, flagged under East Timor, and the Morning Sun, flagged in Panama, faced inspections revealing multiple deficiencies. These incidents cast doubt on Curacao’s ambitions as a trading hub for Venezuelan crude.
Kongsberg Maritime has been awarded a contract by Consórcio Marenova to design four handy-size product tankers for Petrobras Transporte, valued at over $31 million. These vessels, measuring 150.6 meters long, will feature advanced systems and be ready for methanol and ethanol, emphasizing innovation and sustainability in Brazil’s shipbuilding industry.
The Malaysian Maritime Enforcement Agency (MMEA) has detained two tankers suspected of illegal crude oil transfers in Malaysian waters. Acting on intelligence, MMEA personnel boarded the vessels near Port of Penang. The operation underscores the agency’s commitment to maritime security and its proactive stance against maritime crime in the region.
Turkish authorities swiftly responded to two tankers near Istanbul in distress due to strong winds. The empty Azerbaijan-flagged Kalbajar and the Turkish-flagged Alatepe, carrying 2,500 tons of chemicals, faced a collision risk as the Kalbajar’s propeller became entangled with the Alatepe’s anchor chain. Emergency tugs were dispatched.
d’Amico International Shipping S.A. has signed a shipbuilding contract for two new Medium Range 1 product tankers with Guangzhou Shipyard International. Valued at $43.2 million each, the vessels will be delivered in April and July 2029. This investment supports d’Amico’s fleet renewal strategy, enhancing efficiency and capacity.
A drone strike struck Russia’s Taman port on December 22, causing significant damage to infrastructure and vessels. Local officials reported impacts on two tankers and piers, alongside damage to a pipeline and storage tanks. Emergency services are battling fires, as Ukraine intensifies assaults on Russian maritime assets amid rising tensions.
On Friday, two sanctioned tankers caught fire in the Black Sea, reportedly due to external impacts near Turkey. The first, Kairos, was empty and experienced a fire 28 nautical miles offshore. Thankfully, all crew members were rescued unharmed. Concerns grew as the vessel might have struck a mine.
Western sanctions on Russia and Iran have caused unprecedented oil storage levels on vessels, as noted by Gunvor Group’s CEO, Torbjorn Tornqvist. Targeting major producers like Rosneft and Lukoil, these sanctions disrupt trade while maintaining a delicate balance in global oil supply. Mercuria’s CEO also predicts a potential supply surplus next year.
