Abroad

France has released the Grinch tanker under sanctions after the owner paid a multi-million fine.

The key drivers were exports from South America, soybeans and wheat – and this is already supporting freight indices.

Russian government officials are threatening the European Union with “fatal consequences” if the EU begins blocking Russian ships in its own waters.

The Black Sea coastal region of the Russian Federation has been hit by a massive drone attack at night, with damage reported to infrastructure in the port of Taman and fuel tanks.

Britain, the Nordics and the Baltics are considering a joint action plan to seize tankers belonging to the so-called “shadow fleet.”

More and more tankers involved in the transportation of sanctioned oil and subject to US sanctions are increasingly being scrapped.

Currently, ships around the world are transporting 290 million barrels of Russian and Iranian oil under sanctions.

The United States may lift sanctions on Russian oil in the event of a “peaceful settlement” of the Russian-Ukrainian war.

After the tightening of sanctions against stateless vessels, more and more tankers of the “shadow fleet” are being re-registered in Russia.

Athens and Valletta fear that replacing the “price ceiling” mechanism with a complete ban on maritime and insurance services could hit shipping.