Canada slaps sanctions on Gazprom, other Russia energy firms Canada is imposing economic sanctions against Russian energy firms such as natural gas producer Gazprom OAO in response to the actions of Russian-backed militants in Ukraine, Ottawa said on Monday. A government statement did not give details of the sanctions. Other firms targeted are Gazprom Neft OAO, Surgutneftegaz OAO and Transnefteprodukt OAO. (Reporting by David Ljunggren; Editing by Richard Chang)
Norwegian authorities have given the Stavanger-based energy giant Statoil the go-ahead on joint projects with Rosneft, a Russian oil titan that was the target of Western sanctions in 2014. Statoil and Rosneft previously agreed on four projects to explore and produce oil on the Russian continental shelf in the Barents Sea and in the Sea of Okhotsk close to the Arctic Circle. Additionally, there are two joint cooperation projects onshore.
Ninety North Korean vessels were granted certificates to enter Japanese ports in the eight months since a new law that bans entry of any ship without insurance took effect, according to a Daily Yomiuri report. The law on liability for oil pollution damage, which came into force on March 1, requires vessels of 100 tons or larger to be insured before docking in Japan. It had been viewed as a de facto economic sanction
Ukraine's Danube Shipping Company lost $110 million due to military action in Yugoslavia last year that destroyed bridges and blocked traffic along the Danube, transport minister Leonid Kostyuchenko said. NATO launched air strikes last year on Yugoslavia, which it accused of ethnic cleansing in the province of Kosovo, densely populated by ethnic Albanians. Kostyuchenko said collapsed bridges had blocked 63 Ukrainian ships on upper stretches of the Danube
Russia will take counter measures if Washington imposes new sanctions on Moscow over the Ukraine crisis, Russia's Deputy Foreign Minister Sergei Ryabkov said on Saturday. The U.S. Congress has readied new sanctions on Russian weapons companies and investors in the country's high-tech oil projects, but U.S. President Barack Obama has yet to sign a corresponding bill into law. "We will not be able to leave that without an answer
Around 1,250 trucks carrying Turkish exports have been blocked from entering Russia and are stranded at border posts awaiting clearance, a senior shipping industry representative told Reuters on Monday. Six days after NATO-member Turkey shot down a Russian fighter jet in the first known incident of its kind since the Cold War, calls for calm have gone largely unheeded. Ankara refuses to back down and Russia responds with sanctions.
The Russian government plans to spend between $400 to $500 million to expand and deepen the harbor of the Novorossiysk seaport to handle larger vessels, reports Moscow News. Construction, in order to make it more competitive with Ukrainian ports also on the Black Sea, is set to begin in the first quarter of next year with completion scheduled for 2020. Russian government expects that the project will boost container volume at Novorossiysk by 10 to 15 percent
India has come “under pressure” from Iran to complete the Chabahar Port project, with the lifting of Iranian trade sanctions, reports Hindu Business Line. Acting strategically to China’s repeated attempts to wean away India from Chabahar Port upgradation, India is taking steps to firm up its bilateral negotiations and alliance with Iran. According to highly placed sources
Iran is seeking $2.5 billion investment to modernise its oil tankers fleet following the lifting of sanctions against Tehran, managing director of National Iranian Tanker Company (NITC) was quoted as saying by state news agency IRNA on Saturday. Iran emerged from years of economic isolation after crippling sanctions were lifted in January in return for Tehran complying with steps to curb its nuclear ambitions. Reuters reported last month that two Chinese firms were pushing for
Rebels pressed ahead with a referendum on self-rule in east Ukraine on Sunday and fighting flared anew in a conflict that has raised fears of civil war and pitched Russia and the West into their worst crisis since the Cold War. Clashes broke out around a television tower on the outskirts of the rebel stronghold of Slaviansk shortly before voters made their way to polling stations through streets blocked by barricades of felled trees
The National Waterway Act, 2016 declaring 111 national waterways, including the 5 national waterways declared earlier has been enforced w.e.f. 12th April, 2016. The process for preparation of techno economic feasibility (TEF) study/Detailed Project Report (DPR) of new national
The United Nations Security Council lifted North Korean sanctions on five ships after China secured assurances that the vessels would no longer use North Korean crews, a council diplomat said on Sunday. The ships were among 31 vessels sanctioned by the 15-member council on March 2 because they
The United Nations Security Council said on Saturday it had lifted sanctions on five ships that were blacklisted in March for ties to North Korea's arms trade. The ships were among 31 vessels sanctioned by the 15-member council on March 2 because they were linked to Ocean Maritime Management
Hyundai Heavy Industries Co. (HHI), a major shipyard in South Korea, looks set to clinch a deal with Iran to supply 10 ships, says a report in Yonhap. The contract, valued at USD650 million, will see Hyundai supply the Islamic Republic of Iran Shipping Lines, (IRISL) with four 14
The Ministry of Shipping, India has sanctioned Rs. 30 Crore ($4.37 mln) for capacity building and providing safety training of 20,000 workers engaged in ship recycling activities at Alang-Sosiya recycling yard in Gujarat.
Clinton vs. Trump. Perhaps one of the most important presidential elections in U.S. history, the 2016 Election Day results with have impacts felt far and wide – and all throughout maritime industry. A proverb common to both Greek and Turkish cultures states that a wolf may
Iran's crude oil exports are set to decline 5 percent in November to a four-month low, a source with knowledge of its preliminary tanker schedule said, as low seasonal demand in Europe takes the edge off its post-sanctions export bonanza.
Container shipper Islamic Republic of Iran Shipping Lines (IRISL) Chairman Mohammad Saeidi expects the firm to have recuperated by the middle of next year the business lost while Iran was subject to international sanctions. "Step by step the problems have been resolved
Two years after Iran pledged to open up its oil industry in anticipation of the lifting of sanctions, foreign companies say they still have little information about Iranian oil fields and contract terms, hindering investment decisions. Bosses from oil majors including BP, Total, Eni
Around 50 ships owned by or related to North Korea have reflagged in Tanzania since the United Nations Security Council adopted its strongest-ever resolution on the country in March, in an apparent attempt to circumvent the sanctions.
Saudi Arabia began naval war games including live fire exercises on Tuesday in the Gulf and Strait of Hormuz, the world's most important oil route, official media reported, a move that coincides with heightened tensions with regional rival Iran.
In the last two decades gas shipping sectors have been amongst the faster growing parts of the the world of global shipping industry, says Clarksons Research. This week’s Analysis takes a look at how shipping’s ‘coolest’ sector has grown in prominence to
India's government owned Shipping Corp. of India Ltd (SCI) plans to revive a 40-year-old joint venture with an Iranian company after a gap of 4 years, reports Bloomberg. The recent removal of anti-Tehran sanctions opened the way for resuscitating Irano Hind Shipping Co
Iran's crude oil exports in July were more than 2.1 million barrels per day, the oil ministry's news agency SHANA cited a senior Iranian oil official as saying on Wednesday. Director of the International Affairs Department at National Iranian Oil Company (NIOC) Mohsen Ghamsari told SHANA
For the tanker market, in particular for VLCCs, increasing Middle East OPEC production is typically a good sign. Poten and Partners in its Shipbrokers Reports says that does not appear to be the case at this particular moment