An escalating tension in the Persian Gulf over the last months continues to pose serious threats to commercial vessels. Associated with these threats is a potential for miscalculation or misidentification that could lead to aggressive actions, the US MARAD warned.
Following the recent tension in the Strait of Hormuz, the Norwegian Maritime Authority updated its instructions for Norwegian-flagged vessels sailing through the strait. The NMA alerts that they will keep monitoring the situation and any changes will be rapidly updated.
CMA CGM informed that after considering the recent incidents in the Strait of Hormuz and the related significantly increasing insurance costs in the Middle East Gulf region, it decided to implement a War Risk Surcharge. The War Risk Surcharge will apply from July 5th, 2019.
Iran could target US commercial ships, including oil tankers, sailing through key Middle East waterways, as one of the threats to US interests posed by Tehran, the US Maritime Administration (MARAD) said in an advisory posted on Thursday.
The Significant Reduction Exemptions (SREs) granted last November to eight countries by the US for Iranian crude oil imports will not be renewed and are due to expire on 2 May 2019, the US State Department announced.
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.
The Swedish Club has previously advised that sanctions against Iran cause payment problems because banks have proven reluctant to make any payments having even a connection with Iran notwithstanding that the payment may be perfectly legitimate. In line with its previous announcement, the Club now informed that the problem is not isolated to Iran.
As a response to the US re-imposition of sanctions against Iran, the EU intends to amend its Blocking Regulation (Regulation (EC) 2271/06) to protect EU companies from the extraterritorial effects of US secondary sanctions against Iran, the Standard P&I Club informed.
President Trump signed, on March 7, a new Executive Order entitled “Protecting the Nation From Foreign Terrorist Entry Into The United States”, which bans the entry to US for crewmembers from Iran, Libya, Somalia, Sudan, Syria and Yemen, unless they hold valid visas prior to March 16th. Also, they will not be able to obtain visas, until 90 days after March 16th.
The OFAC recently revealed that in reaction to recent missile tests by Iran, certain individuals and entities have been added to the US SDN lists.
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