News on Russia.
Russia increases its efforts to use nuclear power as ship fuel with an order for another two nuclear-powered ice-breaker vessels. A few days ago a similar vessel was launched in St. Petersburg.
Russia's Sovcomflot has already surpassed its expectations for the beginning of 2019. This comes after two weak years in the tanker market where the company booked deficits and impaired the value of its fleet.
According to Norwegian media Aftenposten, Norway's state-owned oil company has invested EUR 220 million in Russia since 2014 where sanctions were introduced against the country.
The new IMO 2020 sulfur regulations will hit the Russian oil sector the hardest, as the country seems to have done little to prepare for the transition, says analyst.
As ice caps melt due to some of the warmest temperatures ever recorded, a new energy trade route is opening up north of the Arctic Circle. The development alarms NGOs but represents an opportunity to shipping players such as LNG carriers.
The US has sanctioned the owners of six Russian tanker ships on claims that they are helping transfer petroleum products to North Korean vessels in violation of international prohibitions.
JSC Zaliv Shipyard, a major Russian yard that builds both container ships and tankers, has now been added to the EU's sanction list because it participated in the construction of the Kerch bridge to the annexed Crimea penninsula. This is the first time a yard has been added to the list.
Sovcomflot's huge LNG tanker vessel Christophe de Margerie (photo) has set a new time record for sailing north of Russia in July from the Yamal Peninsula to the Bering Strait without assistance from ice-breakers.
The EU extends its economic sanctions on Russia by six months due to the Russian aggressions toward Ukraine.
Unifeeder has made a deal with CMA CGM to book slots on the French liner company's new ships between Germany and Russia, writes Alphaliner.
The sanctions against Russian mining behemoth Rusal increases uncertainty in the dry bulk market, causing displacements throughout the supply chain, say stakeholders such as Norway's Torvald Klaveness.
Maersk Line and two of the liner company's subsidiaries have been working closely with major Russian aluminum producer Rusal, which is now hit hard by new sanctions imposed by the US.
Japanese commodity traders fear they could become sanction targets and unable to pay Russian mining company Rusal in US dollars.
Maersk Line will not be sending goods for or receive payments from individuals and companies on the US sanction list imposed on Russia.
Russia has invested billions of dollars in modernizing its refineries. The country is now looking to increase fuel exports significantly and take market shares in Europe, reports Reuters.
Russia was behind the large cyber attack this summer, which hit Maersk and resulted in huge extra costs for the company.
Russia's new protectionist shipping law for the Northern Sea Route is a "regrettable signal to the world," Executive Director Jacob K. Clasen, Danish Shipping, tells ShippingWatch. Read on to learn the shipowners' concerns about the law.
If Denmark says no to a Russian gas pipeline due to political reasons, it could impact safety for ships in the Baltic Sea, as the project will instead be placed beyond the reach of Danish authorities in trafficked waters.
Russia is looking to establish a direct shipping route to war-torn Syria, reports a Russian news agency according to Reuters.
A Turkish shipping company has filed a compensation claim against the trading unit of Russian oil group Lukoil for USD 2 billion. The Turks claim that trading unit Litasco has breached a contract.
Partially Maersk-owned Russian port company Global Ports lost revenue and earnings in the first half of 2017 – but overall container volumes are rising.
There seems to be little expectation that the world's top petroleum exporters will tighten their efforts to curb the global oil glut at the OPEC meeting this weekend.
An international court has sentenced Russia to pay USD 6 million in fines in a case related to Russia's imprisonment of 30 Greenpeace activists in 2013. The activists were protesting against oil drilling near the Arctic when Russian special forces boarded their ship.
The EU's transport and energy sanctions against Russia, its most severe, have now been extended once again. This time, until December.
Russia's oil company has discovered first oil in the eastern part of the Arctic region. The company is now working to estimate the scope of the new oil field.
Executive, Operations - BW LPG
Treasury Risk Manager with focus on financial risk management - Group Treasury, Bunker Holding
