Kobe Steel Ltd, at the center of a data-falsification scandal that has shaken Japan’s manufacturing industry, admitted for the first time that executives were aware of the cheating, and reassigned three senior officials. Japan’s No.3 steelmaker, which supplies the manufacturers …
Global shipping insurers have devised a way to ensure nearly full coverage for Iranian oil exports from next month after striking a deal to provide cover without involving U.S.-domiciled reinsurers, officials in Tokyo and London said. Restrictions on U.S. firms …
Ship insurers have stepped in to help plug a shortfall in cover for transporting Iranian oil resulting from the fact that U.S. reinsurers are still restrained by Washington’s sanctions, according to officials involved in the initiative. International oil and shipping …
Japanese crude buyers are set to switch back to private insurance providers for transportation of Iranian oil, after relief from some EU sanctions goes into effect next week, industry and government sources said. Under the interim deal reached between Tehran …
Iran’s crude oil exports in March may plunge by a quarter from a month earlier to the lowest since tight Western sanctions came into effect in 2012, industry sources said, squeezing income for Tehran as sanctions cast doubt over its …
Iran is shipping oil to China, its top buyer, despite a row over freight terms, and Japan has taken steps to resume imports in August as Tehran finds ways to get around Western sanctions on ship insurance for its drastically …
Japanese insurers are expanding their maritime coverage to allow more domestic tankers to transport Iranian crude, as Tokyo looks to keep oil flowing despite tough Western sanctions, industry sources said on Wednesday. Japan, Iran’s third biggest oil buyer, is expected …
Japan’s lower house is set to pass a bill on Friday to provide government guarantees on insurance for Iranian crude cargoes, making it the first of Iran’s big Asian buyers to find a way to keep the oil flowing in …
Marine insurance, or lack of it, may yet turn out to be the most effective sanction used by Western nations in 17 years of tightening the screws on Iran’s nuclear program. A European Union oil embargo on Iran, set to …
Japanese insurers are warning ship owners that they will only cover one tanker at a time carrying Iranian crude oil through the Middle East Gulf due to tightening Western sanctions against OPEC’s second biggest producer, industry sources said. The three …
