South Korea may soon resume Iranian crude imports after having completely halted shipments in July because of a European Union ban on insuring tankers carrying oil from the Islamic Republic. A resumption would suggest top Asian buyers of Iranian oil …
Somalia’s president has shielded a top pirate leader from arrest by issuing him a diplomatic passport, according to a United Nations investigation which criticizes the “climate of impunity” enjoyed by pirate kingpins in Somalia and abroad. The U.N. Monitoring Group …
Iran said it would insure any foreign ships that enter its waters, in an effort to skirt a European Union ban on insuring ships carrying Iranian crude that has hampered the country’s oil exports. “The Islamic Republic of Iran will …
Tougher action by international navies and the use of private armed guards on ships have more than halved the number of Somali pirate attacks, the International Maritime Bureau (IMB) said on Monday. Last year, Somali piracy in the busy shipping …
South Korea will soon decide on whether to resume Iranian crude imports after Tehran offered to ship and insure the oil to get around the impact of EU sanctions, two Korean government sources said on Friday. The EU oil embargo …
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 …
According to a report from Guy Carpenter the July first reinsurance renewals “took place against a backdrop of plentiful capacity,” as capital “has continued to strengthen through the second quarter of 2012, moderating pricing pressures.” Guy Carp noted that, “although …
A prominent U.S. lawmaker has asked the small South Pacific island nation of Tuvalu to stop reflagging Iranian oil tankers and warned its government of the risks of running afoul of U.S. sanctions. The European Union banned Iranian oil imports …
Pirates fired guns and rocket-propelled grenades at a liquefied natural gas tanker off the coast of Oman on Wednesday, and three shots hit the vessel, the International Maritime Bureau’s anti-crime arm said. “Pirates in a dhow armed with guns and …
A British company said Tuesday it has cancelled insurance for a Russian ship it says was carrying munitions to Syria – a shipment the British government says included refurbished military helicopters. U.K.-based insurer Standard Club said in a statement that …
