Tag: Ukraine

IMO’s Legal Committee approved a circular on Guidance on the impact of the situation in the Black Sea and the Sea of Azov on insurance or other financial security certificates.

Volume wise, Russia’s exports have, unsurprisingly, moved lower week by week since the invasion, and three weeks later were about 25% lower than the 2022 pre-war average.

Wärtsilä, a Finnish technology company who manufactures and services power sources and other equipment in the marine and energy markets, suspends all deliveries and sales to Russia following the invasion of Ukraine. 

Predictive Maritime Intelligence company, Windward, released its latest insight on the rise of “dark activity” involving tankers affiliated with Russian entities, or operating under the Russian flag.

The Marshall Islands is considering “expelling” from their ship registry any Russian yachts or boats that have been targeted by Western-led sanctions on Russia over its invasion of Ukraine, according to its foreign minister.

The South Korean Ministry of Economy and Finance issued a joint statement with the Ministry of Foreign Affairs on 1 March 2022, setting out details of the measures that the South Korean government is taking against Russia. Subsequently, there were further measures introduced as of 7 March 2022.

The concerns over seafarer's well-being have been discussed in a webinar, yesterday, among industry experts. An ICS & ITF briefing on the Ukraine crisis gave a clear picture of the whole situation affecting the seafarers and their families across the maritime industry.

According to HRAS, there have been around 1500 seafarers trapped at sea, as a result of the current invasion. Some crews have been working 20-hour days to get the job done, while suffering with shortages of provisions and fear that they will not get home to see their families.

While all countries were still on the process of recovering from the COVID-19 pandemic, the economic impact and the energy crisis resulting from the Russian-Ukraine war is overwhelming, impacting the shipping industry as well.

Russian forces have relocated five bulkers that were berthed at the captured port of Berdyansk, according to Governor of Zaporizhzhia Oblast Oleksandr Starukh.