18 July 2018
11 October 2019
The United States Office of Foreign Assets Control (OFAC) has expanded sanctions against Iran and issued an advisory to the shipping community.
21 June 2010
21 August 2018
05 August 2019
The recent seizures of an Iraqi oil tanker and a UK flagged ship by Iranian authorities have further increased tensions in the Gulf following earlier attacks on tankers in Fujairah and the Gulf of Oman. But what are the contractual implications for ships operating in the area?
21 January 2020
After the killing of General Qassem Soleimani by a US drone in early January 2020, and the following retaliation by Iran, BIMCO is publishing its view of the escalated tension in the Persian Gulf, as well as advice regarding the new sanctions clauses, and encourages owners, operators and charterers to follow the operational and contractual guidance set out in this article.
10 October 2018
Meanwhile the exports of soya beans to China from the US are down 31% for the first eight months and 95% in August alone, compared to the same periods of least year.
30 May 2018
The impact of the sanctions against Iran and global stockpile levels are two factors to watch out for.
30 August 2018
Starting a trade war is bad for everyone, and shipping is right in the eye of the storm. Adding a new sanctions regime involving the US and Iran is putting another layer of stress on a shipping industry that is struggling to generate profits. Not surprisingly, the IMF’s estimate for world trade volumes was adjusted downwards for both 2018 and 2019 in July.
30 January 2017
From a crude oil market perspective, 2016 can be summed up as “eventful”. In January, the international sanctions on Iran were lifted, resulting in a very swift increase of their oil production capacities and subsequent re-entry into the global oil export market.