Standard Chartered on Tuesday lost a bid to halve the value of a roughly 1.5 billion-pound ($1.94 billion) London lawsuit brought over allegations the lender broke U.S. sanctions against Iran in a more widespread way than it has previously admitted. …
Singapore-flagged oil tanker EM Longevity made its final voyage almost three years ago, after more than two decades at sea. Earlier this month, ship-tracking data showed it arriving at a Chinese port, loaded with crude and ready to discharge. With …
The growing shadow fleet of tankers transporting sanctioned Iranian, Venezuelan and Russian oil is filling up with the cheapest fuel available, hindering industry efforts to use cleaner fuel to cut shipping emissions, according to shipping data and sources. The global …
Standard Chartered Plc is facing about £1.5 billion ($1.9 billion) worth of investor claims at a London trial over allegations it systematically breached Iranian sanctions to win new business. A London judge ruled on Friday [April 19] that the trial, …
A Republican congressman is asking the Treasury Department to explain its handling of a US insurance company that covered dozens of tanker ships suspected of carrying sanctioned Iranian oil. Representative Zach Nunn of Iowa, a member of the House Financial …
Last June, a rusting tanker named Sincere 02 picked up oil at an Iranian port and steamed across the Persian Gulf on its way to the United Arab Emirates. US sanctions forbid Western companies from knowingly doing business with Iran. …
Western-backed maritime forces in the Middle East on Saturday warned shippers traveling through the strategic Strait of Hormuz to stay as far away from Iranian territorial waters as possible to avoid being seized, a stark advisory amid heightened tensions between …
Thirty-seven Ericsson shareholders are suing the Swedish telecoms company for a combined 1.8 billion Swedish crowns ($170 million), saying its CEO’s disclosure of activities in Iraq depressed the stock, business daily Dagens Industri reported on Friday. Ericsson and CEO Boerje …
Indonesia’s coast guard said on Tuesday it seized an Iranian-flagged supertanker suspected of involvement in the illegal transshipment of crude oil, and vowed to toughen maritime patrols. The MT Arman 114 was carrying 272,569 metric tons of light crude oil, …
The oil tanker Turba normally should have been melted down by now. The 26-year-old vessel hasn’t had a full inspection since 2017, according to a database dedicated to promoting safe shipping. It also lacks industry standard insurance and sails under …
