An oil tanker seized by Iran on Thursday was carrying Kuwaiti crude and had a crew of 24 Indians, according to the operator. The US has demanded the immediate release of the the Marshall Islands-flagged Advantage Sweet, which was travelling …
Key figures in the insurance industry said rising Russian oil prices are making it harder for them to know if they can lawfully cover Russian cargoes. Since December, buyers of Russian crude oil have only been allowed to access financial …
A rise in spot prices for Russian crude oil to above the $60 per barrel cap imposed by western powers has made ship insurers even more nervous of running foul of the rules as they are unable to independently track …
An oil tanker company heavily involved in moving Russian oil lost industry standard insurance for its fleet after falling foul of a Group of Seven price cap relating to the transportation of the nation’s barrels. Gatik Ship Management lost so-called …
A United Nations agency that oversees shipping raised concerns about the shadow fleet of tankers that has emerged to transport oil amid sanctions, calling for more steps to boost safety. States that become aware of ships going dark — or …
The oil tanker Turba normally should have been melted down by now. The 26-year-old vessel hasn’t had a full inspection since 2017, according to a database dedicated to promoting safe shipping. It also lacks industry standard insurance and sails under …
Major Japanese shipping company Nippon Yusen KK is seeking a government guarantee to insure vessels at risk from Russia’s war in Ukraine. Conditions for getting war insurance for ships entering Russian territorial water have gotten stricter, said Takaya Soga, the …
An oil tanker runs aground off eastern China, leaking fuel into the water. Another is caught in a collision near Cuba. A third is seized in Spain for drifting out of control. These vessels were part of a “shadow” fleet …
The “shadow fleet” of ships that transport Russian oil around the world has expanded to around 600 tankers, according to trading giant Trafigura. About 400 crude oil vessels, or 20% of the global fleet, have “switched” from mainstream trades to …
Western oil tankers ramped up their shipments of Russian crude in January as prices for Moscow’s flagship Urals grade held below an international price cap, according to market sources and Eikon data. The Group of Seven nations (G7), Australia and …
