The Brazilian port of Paranagua, one of the country’s busiest for sugar and grain exports, said last week that one of the port’s conveyor belts in the “export corridor” remained inoperative after labour authorities idled it because of a risk of explosion, reports Reuters. The Paranagua Export...
Political Risk, Credit & Finance
Marine Round-up : 22nd April 2024
Belgian frigate BNS Louise-Marie, en route to the Mediterranean to join the Aspide mission in the Red Sea, as part of the Belgian Marine Component, participated in an exercise to test its capabilities to respond to the threat posed by Houthi drones. Unfortunately, according to insider reports, a...
https://insurancemarinenews.com/cargo/marine-round-up-22nd-april-2024/
US Sanctions is hurting Sovcomflot’s ability to trade, CEO admits (#prcf)
US sanctions are succeeding in limiting tanker activity for Russian shipping group Sovcomflot, the company’s CEO Igor Tonkovidov told reporters last week. The US imposed sanctions on Sovcomflot on February 23rd as part of a sequence of screw-tightening on companies wishing top do business with...
https://insurancemarinenews.com/insurance-marine-news/marine-round-up-22nd-april-2024-4/
Iranian “spy ship” returns home (#prcf)
Iranian general cargo ship Behshad (IMO 9167289) has left the Gulf of Aden and is heading for home, which will bring to an end the vessel’s alleged role as a “spy ship” in the Red Sea. The Behshad was first deployed to the Red Sea in 2021, and ever since then the consensus in the…
The post Iranian...
https://insurancemarinenews.com/insurance-marine-news/marine-round-up-22nd-april-2024-3/
Shipping Industry urges UN to protect vessels near Iran and in Red Sea (#prcf)
A joint open letter has been sent to UN Secretary General Antonio Guterres calling for help form the UN following the seizure by Iranian forces of the MSC Aries (IMO 9857169) on Saturday April 13th. The letter was co-signed by 16 maritime industry associations and social partners – ASA, BIMCO,...
https://insurancemarinenews.com/insurance-marine-news/marine-round-up-22nd-april-2024-11/
Maersk says it “continues to serve Greater Baltimore”
In its latest update on operations since the March 26th allision between containership Dali (IMO 9697428) – under charter to Maersk at the time – and the Baltimore Key Bridge, which collapsed as a result, Danish shipping company Maersk has said that it was continuing to serve greater Baltimore via...
Jetty damage at Le Havre forces LPG importers to look elsewhere
Disruption to LPG imports at the northern French port of Le Havre after a jetty was damaged has forced market participants to seek alternative Northwest European markets, reported Platts, citing unnamed sources. LPG prices generally weaken as the northern hemisphere’s summer approaches, but the Le...
Latest Amendment To Marpol Annex VI, Appendix V
Effective May 1st 2024, the latest amendment to MARPOL Annex VI, Appendix V “Information to be included in the bunker delivery note”, brings changes to the documentation requirements on bunker delivery notes (BDN), Britannia Club has advised its members. The amendments, adopted by the Marine...
Sanctions reimposed on Venezuela
The Biden administration has reimposed oil sanctions on Venezuela, in response to the failure of President Nicolás Maduro to fulfil his promise to arrange free and fair elections in the country. US companies with investments in Venezuela have 45 days to wind down their operations. The action by the...
https://insurancemarinenews.com/insurance-marine-news/sanctions-reimposed-on-venezuela/
Correspondent updates on Israeli port situation
Club correspondent Harpaz P&I has provided NorthStandard with an update on port status following Iran’s missile and UAV attacks on Israel. On April 13th Iran launched its first-ever direct military attack on Israeli territory, with more than 300 drones and missiles sent from either Iran or...