Indonesian air crash investigators said on Monday they had not so far found evidence that the pilot of an AirAsia jet had left his seat, or that power to an automated control system was shut off, shortly before the aircraft …
The World Trade Organization reached its first ever trade reform deal on Saturday to the roar of approval from nearly 160 ministers who had gathered on the Indonesian island of Bali to decide on the make-or-break agreement that could add …
Crisis is the natural state of world trade negotiations. But this week will be different. Ministers meeting in the Indonesian resort of Bali from Tuesday until Friday will decide the fate of the World Trade Organization, with two possible outcomes: …
Two European insurers have withdrawn cover for tankers involved in the Iranian oil trade, the first such move since tough new sanctions were imposed in July, documents obtained by Reuters show. The tankers, operated by Hong Kong’s Titan Petrochemicals Group …
Iranian petrochemical exports have plunged nearly 90 percent in the last two weeks as most maritime firms, including those in Iran, cannot find insurance to transport the cargo due to EU sanctions, according to traders and shipping data. The impact …
European ship owners could violate impending EU sanctions against Iran without even knowing it every time they set sail, leaving them vulnerable to being blacklisted, the managing director of leading industry group Intertanko said on Friday. Vessels ranging from tankers …
Maritime risk management firm Lloyd’s Register has shut its operations in Iran and can no longer vouch for the safety of the OPEC member’s fleet due to Western sanctions, the head of the company told Reuters. Lloyd’s Register, a classification …
Key ship insurer, China P&I Club, will halt indemnity coverage for tankers carrying Iranian oil as of July amid tightening Western sanctions against OPEC’s second largest oil producer, two club officials told Reuters on Thursday. This is the first sign …
Japanese buyers of Iran crude may ask Tehran to include a force majeure clause in contracts if they are unable to pay Iran or lift Iranian oil due to lack of insurance cover for tankers under European Union sanctions, industry …
Japan’s main shipping insurer will only be able to provide a fraction of the coverage to tankers transporting Iranian oil under new European Union sanctions, officials said on Friday. Starting in July, European insurers and reinsurers will be prohibited from …
