U.S. sanctions

US exposes North Korea blockchain plot to evade ship sanctions

A North Korean computer hacker has been charged in a plot using blockchain to get investors to unknowingly fund North Korean cargo ships with cryptocurrency as a way to evade U.S. sanctions.

The hacker, known as Kim Il, was part of a group of three computer programmers named in a federal indictment unsealed Wednesday in Los Angeles by the U.S. Attorney’s office. The indictment exposes a wide-ranging conspiracy to steal and extort more than $1.3 billion in money and cryptocurrency from financial...

https://www.freightwaves.com/news/us-exposes-north-korea-blockchain-plot-to-evade-ship-sanctions

U.S. Treasury Lifts Sanctions on Chinese Shipping Giant

The U.S. Treasury Department on Friday removed sanctions on two tanker operators within China’s Cosco Group that were blacklisted last year, reports The Wall Street Journal.

Blacklisted for violating U.S. prohibitions

The U.S. Treasury Department on Friday removed sanctions on two tanker operators within China’s Cosco Group that were blacklisted last year for allegedly transporting Iranian oil in violation of U.S. prohibitions.

Spike in oil transport costs 

The sanctions placed on the units of...

http://mfame.guru/u-s-treasury-lifts-sanctions-on-chinese-shipping-giant/

Oil Refiners in Dilemma as Surging Ship Costs Kill Margins

  • Oil refiners are facing disappointment as surging freight rates inflate the cost of buying crude.
  • Complex refining profits in Singapore tumbled to $2.91 per barrel from as high as $10.28 on September 17.
  • Margins are near the lowest for this time of year over the past five years, based on assessments against Dubai benchmark crude.

According to an article published in Bloomberg News, oil refiners hoping for some fourth-quarter gravy are facing disappointment as surging freight rates inflate the...

http://mfame.guru/oil-refiners-in-dilemma-as-surging-ship-costs-kill-margins/

Iran Looking for Ships to Keep Oil Flowing


  • Renewed U.S. sanctions makes potential sellers and flag registries wary of doing business with Tehran.
  • With U.S. sanctions in November, up to 10 new supertankers have stalled from South Korea.
  • Panama removed nearly 21 Iranian tankers from its registry forcing Tehran to put the vessels under its own flag.
  • The restrictions are on Iran’s port, energy and shipping sectors with temporary waivers to its 8 biggest oil customers.
  • Oil exports accounting for an estimated 70 percent of Iran’s revenues.
  • I...

http://mfame.guru/iran-looking-for-ships-to-keep-oil-flowing/

PDVSA to Declare Maritime Emergency! Tanker Fleet to Return 10 Vessels

  • Venezuelan state oil company’s tanker fleet to return 10 vessels because of unpaid fees.
  • PDVSA’s weak finances, the result of mismanagement, a sharp decline in oil output and U.S. sanctions designed to oust President Nicolas Maduro.
  • Over a dozen tankers with Venezuelan oil around the world have been arrested in recent years by authorities.

According to Reuters, Plans by the German operator of a portion of the Venezuelan state oil company’s tanker fleet to return 10 vessels because of unpaid...

http://mfame.guru/pdvsa-to-declare-maritime-emergency-tanker-fleet-to-return-10-vessels/

Iran calls upon IMO for U.S. sanctions

Iran has lodged complaint at the International Maritime Organization (IMO) against the U.S. sanctions on Iranian ships, Tasnim news agency reported on Friday (Nov. 9).

Iran’s embassy in Britain has sent a letter to IMO Secretary-General Kitack Lim to pronounce Tehran’s protest against U.S. unilateral sanctions against Iranian trade vessels, Iran’s Ambassador to London Hamid Baeidinejad was quoted as saying.

The letter has denounced the U.S. sanctions as a violation of international shipping...

http://container-news.com/iran-calls-upon-imo-u-s-sanctions/