BIMCO’s Documentary Committee issued two charter party sanctions clauses to help owners and charterers manage due diligence policies and navigate an increasingly challenging environment of economic and trade sanctions imposed by governments.
On 9 December 2019 the US Treasury Department of Foreign Assets Control (OFAC) designated several individuals and entities to the Specially Designated Nationals (SDN) sanctions list under Executive Order 13818 (EO 13818). Under EO 13818, a former government official in Latvia and four companies owned or controlled by him were listed under the SDN list, which included Ventspils Freeport Authority.
The Trump Administration implemented new sanctions against Iran, targeting an Iranian shipping network and airline, as it was announced by U.S. Secretary of State Mike Pompeo. Pompeo informed that the designated companies include the Islamic Republic of Iran Shipping Lines (IRISL) and its China-based subsidiary, E-Sail Shipping.
The Authorities of Singapore reported that they may arrest the Russian vessel that has been under US sanctions for violating economic sanctions imposed on North Korea, Interfax, a Russian news reported.
The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) blacklisted additional six vessels linked to Venezuelan PdVSA, with the latter having already been sanctioned. All vessels stated above, departed Venezuela for Cuba in the fall to deliver oil for the sanctioned Cuban trading firm Cubametales.
WISTA Hellas conducted its Annual Forum on November 5, focusing on the sanctions that are being imposed today, the development of digitalization, as well as the role of women in shipping and the importance of boosting their presence in the sector.
The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanction the Cuban company, Corporacion Panamericana S.A., pursuant to Executive Order (E.O.) 13850 for being owned or controlled by, or having acted for or on behalf of, Cubametales, an entity designated on July 3, 2019, for operating in the oil sector of the Venezuelan economy.
In light of the US Sanctions to COSCO for alleged involvement in moving crude oil from Iran, David Peyman, deputy assistant secretary of state for counter threat finance and sanctions, commented that no company is too big to avoid sanctions if they conduct illegal operations.
In the wake of Turkey’s agreement to a ceasefire in Syria, the sanctions against Turkey were lifted on 23 October, and the two ministries and the three ministers have been removed from the Specially Designated Nationals List, according to data provided by law firm Freehill Hogan and Mahar.
Six ARC7 LNG carriers transporting gas from the Yamal LNG project, under a joint venture of Teekay LNG with China LNG, are no longer classified as a “Blocked Person” under US OFAC rules, according to an official statement by Bermudas-based Teekay Corporation.
AMSA fines company for unlawfully operating domestic commercial vessel07/08/2020
US cruise operators voluntarily suspend voyages until at least October 3107/08/2020
Pilot loses life after falling from pilot ladder07/08/2020
Philippines launch new procedures on crew changes, repatriation07/08/2020
- Maritime Health
Update: Live map depicts spread of coronavirus07/08/2020
Beirut port closed06/08/2020
Container casualty causes in the spotlight06/08/2020
Australia risks clogged ports with over-contract seafarers stopping two ships06/08/2020
Benin to allow foreign Armed Security Teams on board ships06/08/2020
Maritime Autonomous Surface Ships initiative launched06/08/2020