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Iran, Bulgaria to widen cooperation in ports and maritime transport

Iran and Bulgaria have signed six Memoranda of Understanding to enhance cooperation in different fields, including ports and maritime transport, postal services, trade, meteorology, and standardization policies. Bulgaria also welcomed a continuation of the discussions on developing the Greece-Bulgaria-Black Sea-Georgia-Azerbaijan-Armenia-Iran transport corridor.

Iran – Oman to launch new shipping line

Iran’s Ambassador announced on Wednesday, April 17, that Iran and Oman are to launch a new shipping line between their ports in the Persian Gulf in a move to help boost economic interactions between the two countries.

Iran is placed 2nd on IOMOU report for ship inspections

Nader Pasandeh, Director General of Maritime Affairs of Ports and maritime Organization, announced that Iran is ranked int he second position in Indian Ocean Memorandum of Understanding on Port State Control, after having inspected 577 foreign flag ships in 2018.

Abadan ports’ exports rise by 56% in 2018

According to Iran’s Ports and Maritime Organization (PMO) Abadan, Arvandankar and Choabdeh ports experienced an increase of 56% in 2018. Iran is developing its ports and its shipping power and in the meantime, the country aims to a low-sulphur shipping, as the Deputy Director has commented in the past that low-sulphur fuel should be a priority for the Iranian fleet.

Iran’s Islamic Revolutionary Guard Corps seize tanker for fuel smuggling

Iran’s Islamic Revolutionary Guard Corps (IRGC) seized a tanker on charges of fuel smuggling, in the Strait of Hormuz. According to an IRGC commander, the tanker tried to smuggle three million gallons of fuel out of Iran. IRGC commander Rear Adm. Ali Reza Tangsiri noted that it is the first time ever that Iranian officials have seized this kind of amount.

Iran in talks with National Oil Company to supply low sulphur fuel

Hadi Haghshenas, Deputy of maritime affairs of Iran’s Ports and Maritime Organization, stated that Iran’s top priority concerning the maritime industry is to use low-sulphur fuel, which is required to be observed by all vessels for the following eight months.

How have sanctions against Iran affected insurers

Prof. Dr. Dieter Schwampe, Partner at Arnecke Sibeth Dabelstein, IUMI Professional Partner, talks about the sanctions that are taking place around the world, regarding Iran. The start was made with the termination of the US participation from the Joint Comprehensive Plan of Action (JCPOA), on 5 August 2018, with EU following by publishing the Blocking Regulation.

US warns against shipping petroleum to Syria

The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) updated its Advisory to the maritime petroleum shipping community, to highlight risks associated with shipments to Syria. This advisory updates a previous one on 20 November 2018.

OPEC crude production falls to lowest level in four years

OPEC crude production reduced by 240,000 b/d in February to 30.68 million b/d, which is the lowest level in 4 years. According to Gibson Shipbrokers, February numbers indicate a significant over compliance, with Saudi Arabia leading efforts to implement cuts with a 153% compliance rate, some 170,000 b/d already below their overall target.

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