Tag: Russia

Russia and China are collaborating to enhance the Northern Sea Route (NSR), aiming to increase Chinese transit to 50 million tons by 2030.

Flex LNG Ltd presented its first quarter 2024 results in a video webcast on May 23, 2024, where the CEO, Oystein Kalleklev, raised concerns over a Russian LNG-carrying dark fleet. 

Russian tankers, a segment of what's referred to as the "shadow fleet," have been linked to approximately 50 incidents in the last three years, as reported by Allianz. This information sets the stage for a forthcoming comprehensive report on maritime risks scheduled for publication later in the month.

According to Reuters, India's ship certification agency has stopped providing safety certifications to Russian oil tankers that are under U.S. sanctions, opting instead to use a domestic provider, according to information on its website.

Stella Maris has warned of the escalating dangers faced by seafarers navigating through the Red and Black Seas en route to Ukraine.

In this week’s “Shipping Number of the Week” from BIMCO, Chief Shipping Analyst, Niels Rasmussen, explores the 135% jump in Russian clean petroleum products heading to Brazil as trade patterns have changed following EU sanctions.

According to sources from the European Union, the European Commission is likely to suggest imposing penalties on vessels transporting North Korean military equipment to Russia, as well as on tankers that violate the G7's price limit for Russian oil, Reuters highlights.

An Egyptian wheat ship, the Wadi Almolouk, was allowed to sail from a Russian port after waiting three weeks for the correct paperwork amid a dispute a Russian grain trader and local regulators.

According to American Club, in response to evolving geopolitical dynamics and efforts to constrain Russian revenues amid ongoing conflicts, changes to the Oil Price Cap (OPC) scheme have been implemented, impacting the transport and insurance of specific Russian cargoes. 

According to EIA, China, imported 11.3 million barrels per day (b/d) of crude oil in 2023, 10% more than in 2022, according to China customs data.