Escalating sanctions on Russian and Iranian oil: Implications for the tanker market

The recent tightening of sanctions enforcement on Iranian and Russian oil by the US and EU may lead to notable shifts in global tanker trade patterns. On Wednesday, July 30, the U.S. Department of the Treasury announced sanctions targeting over 100 Iran-linked individuals, companies, and vessels involved in the export of Iranian oil and petrochemicals. …

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US sanctions force vessels with Russian oil to divert from India, sources say

At least two vessels loaded with Russian oil bound for refiners in India have diverted to other destinations following new U.S. sanctions, trade sources said, and LSEG trade flows showed. The U.S. Treasury Department this week imposed sanctions on more than 115 Iran-linked individuals, entities, and ships, some of which are involved in transporting Russian …

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Green methanol bunkering a positive step

Hong Kong holds a significant position in the international shipping industry while this thriving sector also contributes to substantial greenhouse gas emissions. As part of Hong Kong’s efforts to contribute to the global fight against climate change and develop the city into a green maritime fuel bunkering center, the Hong Kong Special Administrative Region government …

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