U.S. Sets Sights on Shipping Companies for Sanctions Evasions

By Jonathan Saul LONDON, Nov 6 (Reuters) - The United States will target shipping companies that are in breach of sanctions and aggressively enforce measures across the globe to clamp down on such practices, a top U.S. official said on Wednesday. In one of the biggest sanctions actions taken by the U.S. government since its crackdown on Iranian oil exports, Washington … [Read more...]

COSCO Tanker Sanctions Seen Denting Demand for High Sulphur Fuel Oil

By Noah Browning LONDON, Oct 29 (Reuters) - U.S. sanctions on a top Chinese shipping fleet is set to produce a totally unintended result -- less burning of the dirtiest marine fuels at sea at the start of next year, Refinitiv data showed on Tuesday. The move to blacklist ships from COSCO on Sept. 24 for allegedly ferrying sanctioned Iranian oil will undercut demand for … [Read more...]

U.S. Waiver Offers Grace Period to Wind Down Business with COSCO Tanker Units

WASHINGTON, Oct 24 (Reuters) - The U.S. Treasury Department on Thursday issued a nearly two-month waiver for companies to wind down transactions with a Chinese tanker company it sanctioned last month for allegedly transporting Iranian oil. The waiver, good through Dec. 20, allows "maintenance or wind down of transactions" including offloading non-Iranian crude oil involving … [Read more...]

Teekay’s Icebreaking LNG Carriers No Longer Considered ‘Blocked’ Under U.S. Sanctions

The joint venture operating icebreaking LNG carriers for Yamal LNG have been exempted from U.S. sanctions against COSCO tanker units, Russian natural gas producer Novatek said Tuesday. Novatek, which operates Yamal LNG plant in northern Russia, announced it has received notification from TC LNG Shipping, the joint venture owning the Arc7 ice-class tankers, that the JV is no … [Read more...]

U.S. ‘Deeply Concerned’ About Chinese Tankers Going Dark

By Timothy Gardner and Arshad Mohammed WASHINGTON, Oct 16 (Reuters) - The White House is warning Chinese shipping companies against turning off their ships' transponders to hide Iranian oil shipments in violation of U.S. sanctions, two senior administration officials said. "We've been messaging very heavily to the shipping companies, you don't want to do this, it's not worth … [Read more...]