oil tanker insurance News

Russia Expands Response to Biggest Black Sea Fuel Spill in Decades

Russia has formed a new government commission to coordinate clean up of the biggest spill of oil products in the Black Sea in recent history as the Kremlin continues to assess the full scale of the catastrophe. Two tankers carrying …

Dark Fleet Oil Tanker Caught in Recent Collision Heads to China

A dark-fleet oil tanker that was recently involved in a crash in Southeast Asia is now on its way to China. Ceres I, an aging very-large crude carrier that’s suspected of transporting sanctioned oil, is en route to Zhoushan in …

Explosive-Packed Drone Boat Slams Into Oil Tanker in Red Sea

An explosive-laden drone boat slammed into an oil tanker as it sailed past the coast of Yemen, a sign Israeli airstrikes haven’t deterred the country’s Houthi militants from attacking commercial shipping. The 900-foot ship was hit by an uncrewed surface …

Britain Targets Russian LNG Sector With Fresh Shipping Sanctions

Britain on Thursday sanctioned five vessels and two associated entities involved in the shipping of Russian LNG, with the government saying it was using new legal powers for the first time to target LNG vessels directly. “Earlier this year, the …

Russia’s Oil Tanker Firm Sovcomflot Says G-7 Sanctions Make Oil Trade Less Safe

Russia’s state-run oil tanker company Sovcomflot PJSC said that western sanctions on ships moving the nation’s petroleum oil are only serving to heighten environmental risks by forcing some vessels out of mainstream trading. Since late last year, US, European Union …

Insurers Say Dark Fleet Oil Tankers Pose a Major Claims Risk

Marine insurance markets face significant risk from the growth of a shadow fleet of ships hauling oil from sanctioned producers like Russian and Iran, an industry group said. The opaque nature of the ownership of those vessels makes it hard …

London-Based Ship Registry Helps Russia Oil Tankers Keep Running

Three oil tankers that are under British sanctions for transporting Russian petroleum are sailing under the flag of a nation that bases its operations in London. The Galaxy, the Liberty and the Rigel, all of which moved barrels for Moscow …

Four Suspected Houthi Attacks Target Ship Off Yemen, Authorities Say

Four suspected attacks by Yemen’s Houthi rebels targeted a Liberian-flagged oil tanker in the strategic Bab el-Mandeb Strait linking the Gulf of Aden to the Red Sea, including one that saw private security guards shoot and destroy a bomb-loaded drone …

Western Insurers Provide Cover for Russian Oil Despite Price Cap Concerns

A group of Western insurers have provided cover for tankers carrying Russian crude, keeping its oil flowing after many in the trade sector withdrew for fear of breaching the rules of a G7 price cap, data from traders and shippers …

How Iran Oil Link Could Complicate Insurance Claims After Tankers Collide Off Singapore

A collision between two tankers off Singapore in July raises questions over insurance claims, as one of the vessels previously shipped Iranian oil, potentially complicating payments due to Western sanctions, ship-trackers and industry sources say. WHAT HAPPENED? The Singapore-flagged Hafnia …