Commercial

On 8th May 2025, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) is increasing pressure on Iran’s export of oil, designating the “teapot” refinery Hebei Xinhai Chemical Group Co., Ltd. and three port terminal operators in Shandong Provincefor their role in purchasing or facilitating the delivery of hundreds of millions of dollars’ worth of… Read more: US Treasury Sanctions Oil Tankers and Masters

Adani Ports has published a trade notice on 15th April 2024 which also came into effect from same date on Revised Fuel Surcharge. With reference to the Circular no: GPL/DEC/2024-25/01 dated 31st Dec 2024 on ‘Fuel Surcharge onPilotage’, the said tariff item was liable for escalation / de-escalation based on the bulk fuel price changessubject… Read more: Adani Ports: Revised Fuel Surcharge on Pilotage

BIMCO and the Association of Ship Brokers & Agents (USA) Inc. (ASBA) have revised ASBATANKVOY, the only dedicated tanker form not associated with an oil major. The updated version of the voyage charter party addresses changes in the tanker trade, commercial practices and regulations since its last revision. The original edition of ASBATANKVOY has become… Read more: BIMCO and ASBA Publish Updated Oil Tanker Charter Party

WASHINGTON – Today 28th April , the Department of the Treasury’s Office of Foreign Assets Control (OFAC) is targeting three vessels and their owners for providing support to Ansarallah, commonly known as the Houthis, which is part of the Iranian regime’s network of terrorist proxies and partners.  The group has deployed missiles, unmanned aerial vehicles, and… Read more: US Treasury Targets Vessels Delivering Oil to the Houthis

Tug/Supply Vessel Sea Ranger, IMO: 7230410 and Tug Salama carrying 1.5 million litres of smuggled fuel, were stopped and seized by the Navy of Iran’s Islamic Revolutionary Guard Corps (IRGC) near Farsi Island in the Persian Gulf. The two vessels, flying the flag Tanzania, were attempting to exit Iran’s sovereign waters as per IRGC. The smuggled diesel fuel… Read more: Iranian Navy Seizes Two Vessel for Smuggling Oil