Accord News

The commander of Iran's Revolutionary Guard's navy said on Tuesday Israel's presence in the United Arab Emirates was viewed as a threat by Tehran and it could close the Strait of Hormuz if deemed necessary.Iran has threatened to retaliate for suspected Israeli airstrikes on its consulate in Syria's capital on April 1 that killed seven Revolutionary Guards officers including two senior commanders - stoking tensions between the arch enemies already heightened by the Israel-Hamas war in Gaza."We do not get hit without striking back…

Turkish President Tayyip Erdogan will discuss a new mechanism to allow Ukrainian grain exports through the Black Sea with his Russian counterpart Vladimir Putin during his upcoming visit to Turkey, Foreign Minister Hakan Fidan said on Sunday.Putin is expected to visit Turkey on Feb. 12 to meet Erdogan, a Turkish official previously said, in what will be the Russian leader's first trip to a NATO ally since Moscow's invasion of Ukraine in February 2022.There are efforts to find "new methods" to transport Ukrainian grain to the world markets…

Canceled offshore wind projects, imperiled solar factories, and fading demand for electric vehiclesA year after the passage of the largest climate change legislation in U.S. history, meant to touch off a boom in American clean energy development, economic realities are fraying President Joe Biden’s agenda.Soaring financing and materials costs, unreliable supply chains, delayed rulemaking in Washington and sluggish permitting have wrought havoc ranging from offshore wind developer Orsted’s project cancellations in the U.S.

Iran's oil output and exports jumped in August despite U.S. sanctions, according to consultants and companies that track tanker shipments, as Tehran sells to buyers including China.Analysts said the higher exports appear to be the result of Iran's success in evading U.S. sanctions and Washington's discretion in enforcing them as the two countries seek better relations.The United States has sought to limit Iran's oil exports since Donald Trump exited a 2015 nuclear accord in 2018 and re-imposed sanctions aimed at curbing revenues to Iran's government.

Bangladesh is set to ratify an international convention in early June on recycling ships aimed at increasing safety and environmental standards, a senior official told Reuters."We expect the first week of June for the official declaration," said Mamunur Rashid, a deputy secretary with the Ministry of Industries, who said Bangladesh is the world's top ship breaking and recycling centre.The Hong Kong Convention was adopted in 2009 by 63 countries and so far has been ratified by 20 nations…

The pace of shipments from Ukraine under a U.N.-backed initiative has slowed as concerns grow over ships getting stuck if a deal is not renewed later this month, according to sources and data. Russia, which is one of the key parties involved, said it will keep talking, although Moscow has threatened to quit on May 18, which has created more uncertainty for traders and shipping companies trying to plan ahead. Under the accord, Ukraine has been able to export some 29.5 million tonnes of agricultural products, including 14.9 million tonnes of corn and 8.1 million tonnes of wheat.

Insurers continue to cover grain shipments from Ukraine through a U.N.-backed corridor although more clarity will be required soon, a senior Lloyd's of London official said on Thursday, after the export accord was renewed for at least 60 days.The deal allowing the safe wartime export of Ukrainian grain from its Black Sea ports, initially brokered last July by Turkey and the U.N., was renewed on Saturday for just half the intended period.Insurance for ships going into the three Ukrainian ports covered by the agreement has been vital…

Russia has proposed that a U.N.-backed initiative that has enabled grains to be exported from Ukraine's Black Sea ports should be renewed for just 60 days.The deal to free up grain exports from Ukraine's southern Black Sea ports, which expires later this month, has previously been renewed for 120 days and there are concerns a shorter extension could cause logistical issues.Reached in July last year, it created a protected sea transit corridor and was designed to alleviate global food shortages by allowing exports to resume from three ports in Ukraine…

Canada-based marine simulation training firm Virtual Marine Technology Inc. announced it has signed a strategic market representation agreement with New Zealand's Global Marine Technical Services (GMTS), extending its in-country coverage to Australia and New Zealand. The deal includes representation for Virtual Marine’s products within New Zealand and Australia, as well as other areas in the Indo-Pacific region.With a range of desktop to full mission motion systems, Virtual Marine…

Iranian oil exports hit new highs in the last two months of 2022 and are making a strong start to 2023 despite U.S. sanctions, according to companies that track the flows, on higher shipments to China and Venezuela.Tehran's oil exports have been limited since former U.S. President Donald Trump in 2018 exited a 2015 nuclear accord and reimposed sanctions aimed at curbing oil exports and the associated revenue to Iran's government.Exports have risen during the term of his successor President Joe Biden, who had sought to revive the nuclear deal, and hit the highest since 2019 on some estimates.

Israeli and Lebanese leaders finalised a U.S-brokered maritime demarcation on Thursday, bringing a measure of accommodation between the enemy states as they eye offshore energy exploration.Leaders from Lebanon, Israel and the United States have all hailed the deal as "historic" but the possibility of a wider diplomatic breakthrough remains slim. As a result, there was no joint signing ceremony: Lebanese President Michel Aoun signed a letter approving the deal at his palace in Baabda in the presence of the U.S.

President Vladimir Putin mooted on Wednesday reopening a U.N.-brokered deal for Ukrainian grain exports via the Black Sea and threatened to halt all energy supplies to Europe if Brussels caps the price of Russian gas.In a combative speech to an economic forum in Russia's Far East region, Putin made little reference to his invasion of Ukraine, but said in answer to a question that Russia would not lose the war and had strengthened its sovereignty.On the ground, Ukrainian officials…

A number of insurance underwriters are interested in providing cover for grain shipments from Ukraine after an agreement was reached to re-open Black Sea ports, although the first shipments are expected to be weeks away, industry sources said on Friday.Russia and Ukraine signed a landmark deal on Friday to reopen the ports for grain exports, raising hopes that an international food crisis aggravated by the Russian invasion can be eased. The accord crowned two months of talks brokered by the United Nations and Turkey…

Russia and Ukraine signed a landmark deal on Friday to reopen Ukrainian Black Sea ports for grain exports, raising hopes that an international food crisis aggravated by the Russian invasion can be eased.The accord crowned two months of talks brokered by the United Nations and Turkey, a NATO member that has good relations with both Russia and Ukraine and controls the straits leading into the Black Sea.Speaking at the signing ceremony in Istanbul, U.N. Secretary General Antonio…

Remote-controlled cameras will take over responsibility from U.S.-led peacekeepers for ensuring international shipping retains freedom of access to the Gulf of Aqaba, whose coastline is shared by Israel and three Arab nations, officials said.Tiran island, which lies in the straits of the same name at the mouth of the gulf, was handed to Saudi Arabia from Egypt along with next-door Sanafir island in 2017.During a visit to Israel and Saudi Arabia last week, U.S. President Joe Biden…

Russia said on Thursday it was facilitating the export of grain and oilseeds from Ukraine through Russian-held transit points on the Azov Sea, without explaining who was providing the foodstuffs for export.Ukraine, like Russia one of the world's biggest exporters of grains and oilseeds, has accused Russia of stealing grain from territories in Ukraine that its forces have seized.Russian Deputy Prime Minister Viktoria Abramchenko rejected the allegation in an interview with Reuters…

The U.S. seizure of Iranian tankers in recent months has not stopped sanctions-hit Tehran from increasing oil exports, Iran's oil minister was quoted as saying on Saturday.“The United States has on several occasions in the past months violated Iranian oil tankers to prevent export of shipments," Javad Owji said in an interview carried by Iranian media."When the enemy realized it could not stop our exports and contracts, they went after our ships," Owji said.His remarks follow reports of a recent seizure of an Iranian oil tanker in the Bahamas, even as indirect Iran-U.S. talks in Vienna to revive a 2015 nuclear deal could see the lifting of U.S.

Turkey is calling on all sides in the Ukraine crisis to respect an international pact on passage through the Turkish straits to the Black Sea, Defense Minister Hulusi Akar was cited as saying on Tuesday after Ankara closed access.NATO ally Turkey borders Ukraine and Russia in the Black Sea and has good ties with both. Under the 1936 Montreux Convention, Ankara has the right to limit transit through its Bosphorus and Dardanelles straits during wartime.This allows it to curb Russian warships going to the Black Sea.

Turkey is calling on all sides in the Ukraine crisis to respect an international pact on passage through the Turkish straits to the Black Sea, Defence Minister Hulusi Akar was cited as saying on Tuesday after Ankara closed access.NATO ally Turkey borders Ukraine and Russia in the Black Sea and has good ties with both. Under the 1936 Montreux Convention, Ankara has the right to limit transit through its straits during wartime.This allows it to curb Russian warships going to the Black Sea.

Iranian oil exports have risen to more than 1 million barrels per day for the first time in almost three years, based on estimates from companies that track the flows, reflecting increased shipments to China.Tehran's oil exports have been limited since former U.S. President Donald Trump in 2018 exited a 2015 nuclear accord and reimposed sanctions aimed at curbing oil exports and the associated revenue to Iran's government.Iran has kept some exports flowing despite sanctions as intermediaries find ways to disguise the origin of the imports.

Alternatives to fossil fuels are emerging throughout the maritime universe, and vessels working in U.S. rivers, waterways and harbors are at the cusp on this trend. While the alternative fuels spectrum is wide, battery power and electrification—a technology that has seen a decade of shipboard applications already—is particularly suited for smaller vessels.Crowley Maritime Corp will be taking delivery of a completely electric tugboat, dubbed eWolf; the boat- which will include kit for advanced vessel control tied to an electric propulsion system from ABB…

More than 150 leading companies and organizations including oil majors and port authorities on Wednesday called for the global shipping industry to be fully decarbonized by 2050, urging governments to step up action warning time was limited.With about 90% of world trade transported by sea, global shipping accounts for nearly 3% of the world's CO2 emissions and the sector is under growing pressure to get cleaner.UN shipping agency the International Maritime Organization (IMO), has said it aims to reduce overall greenhouse gas (GHG) emissions from ships by 50% from 2008 levels by 2050…

Iran said on Wednesday the United States had agreed to remove all sanctions on Iran's oil and shipping but Washington said "nothing is agreed until everything is agreed" in talks to revive the 2015 Iran nuclear deal.The remarks by outgoing President Hassan Rouhani's chief of staff Mahmoud Vaezi echoed previous assertions by officials in Rouhani's pragmatist camp that Washington is ready to make major concessions at the nuclear talks in Vienna that began in April.The indirect talks adjourned on Sunday for consultations in capitals…