Global Maritime Industry Braces for Regulatory Sanctions

OFAC has brought close to 800 actions against maritime vessels.
Shipping industry has been thrown into chaos by an unprecedented escalation of sanctions activity.
Freight rates soared on the blacklisting of Chinese shipper Cosco for allegedly shipping Iranian crude and gas.
The advisory surrounds the use of automatic identification system (AIS) transponders.
Curbing ship-to-ship transfer will halt funding to North Korea and Iran.
It will launch the registry information sharing compact (RISC).
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