Putin’s oil exports capped at $60/barrel: Now what?
There are interesting times ahead in the tanker market. From December 5, the European Union ban on imports of Russian oil will kick in, with a minor exception for Bulgaria, which has
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Allianz names top causes of costly marine insurance losses
Fire and explosion incidents cause the most expensive insurance claims in the marine industry, while at a time of rising exposures and inflation, cargo damage is the most frequent cause of loss,
Poten: Increased Russian oil moves by Dark Fleet pose safety threat
In his latest weekly Tanker Opinion, Erik Broekhuizen, head of tanker research at New York headquartered Poten & Partners, says that, while Russian oil exports have thus far only been impacted by
Feds offer $5 million reward for info on fugitive shipowner
The U.S. Department of State’s Rewards for Justice (RFJ) program, is offering a reward of up to $5 million for information on Kwek Kee Seng, a Singaporean national and director of the
Finland bans export of icebreaker to Russia
Finnish broadcaster YLE reports that the Finnish Ministry for Foreign Affairs has denied Helsinki Shipyard an export license for an icebreaker on order for Russian mining firm Norilsk Nickel. Norilsk Nickel is
Canada extends contract for support ship converted from containership
Ottawa-headquartered Federal Fleet Services (FFS) reports that the Government of Canada has confirmed a two-year extension to its at-sea support services contract for the combat support ship, M/V Asterix. Converted from a
Inland Waterways: Yesterday’s price is not today’s price
By Tracy Zea, WCI President and CEO Anyone who’s shopped for groceries, dined at restaurants, paid rent or pretty much purchased anything these past months knows we are facing economic challenges unprecedented
Crew shortages are driving up seafarer wages
The Ukrainian conflict, sanctions against Russia, and new COVID-19 outbreaks in the Far East are all impacting global crewing levels, says Henrik Jensen, CEO of Danica Crewing Specialists. And with crew shortages
Shipping losses fall, but that’s not the whole story
First the good news, then the bad. That’s the main take away from marine insurer Allianz Global Corporate & Specialty SE’s Safety & Shipping Review 2022. The good news is that though
Wärtsilä pulls out of Russia
Wärtsilä Corporation is to write-off approximately EUR 200 million (about $217 million) related to assets and business operations in Russia. A statement released by the company today says: “Wärtsilä strongly condemns the