Russia’s leading shipping company Sovcomflot plans to sell part of its fleet, it said on Friday, as it grapples with Western sanctions and seeks to repay outstanding loans. Sovcomflot has faced growing challenges in concluding charters as ports, end purchasers, …
Western ship insurers are terminating cover for Russia’s leading shipping company Sovcomflot as multiple sanctions start to bite, companies involved say, adding to the growing challenges for the state-owned company and Moscow’s efforts to export oil and gas. Russia’s maritime …
The European Union is seeking to go beyond an import ban on Russian crude, targeting insurers in a move that could dramatically impair Moscow’s ability to ship its oil anywhere in the world. The bloc is proposing to ban European …
Just under 500 seafarers remain stuck onboard 109 ships at Ukrainian ports – skeleton crews who were left on board to enable their crew mates to be evacuated amid the conflict with Russia, shipping officials said on Friday. Those remaining …
India’s Oil and Natural Gas Corp. (ONGC) is struggling to find a vessel to ship 700,000 barrels of crude from Russia’s Far East, in a growing sign that complex trades involving one of Moscow’s biggest partners are being interrupted by …
The cost of insuring merchant ships sailing to ports in the Black Sea has spiraled out of control, becoming a huge potential impediment to the movement of Russian cargoes from the region. Underwriters are charging as much as 10% of …
A Dominica-flagged cargo ship sank on Tuesday in the besieged southern Ukrainian port city of Mariupol after being targeted by Russian missile strikes, the vessel’s flag registry said. The Azburg was believed to have been without cargo and at berth …
The Ukrainian government has asked international marine insurers to stop all dealings with shipping companies carrying Russian fossil fuels in a bid to intensify pressure on Vladimir Putin’s regime. Oleg Ustenko, Chief Economic Advisor to Ukrainian President Volodymyr Zelenskiy, urged …
Russia’s top shipping company Sovcomflot (SCF), already struggling to find berths to discharge cargoes, is facing fresh pressure after the UK on Thursday joined countries that have slapped sanctions on it, with implications for insurance and certification. With a modern …
The world’s top association of ship certifiers has withdrawn membership from the Russia Maritime Register of Shipping (RS) due to the impact of sanctions on Moscow after its invasion of Ukraine, in another blow to the country’s vital shipping sector. …
