Tag Archives: Shipping

U.S. updates guidance for the shipping industry on tactics used to illegally procure Iranian oil for Syria

On Monday, March 25, 2019, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) updated the advisory document it published in November 2018 on the risks for parties involved in petroleum shipments to Syria. The update adds … Continue reading

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OFAC addresses North Korea’s illicit shipping practices with updated advisory document

On Thursday March 21, 2019, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) updated the advisory document it published on February 23 regarding North Korea’s illicit shipping practices. The updated guidance provides further information about North … Continue reading

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Blockchain Boost for the Shipping Industry

After several successful trials over the last year, Israel’s largest cargo shipping company, Zim, has implemented a blockchain platform for electronic bills of lading.  According to Zim, this technology could replace paper bills of lading and further improve other activities … Continue reading

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Significant amendments in the pipeline to Singapore’s Merchant Shipping Act

The Merchant Shipping (Miscellaneous Amendments) Bill was read in the Singapore Parliament for the first time on 19 November 2018. The Bill proposes to make a number of significant amendments to Singapore’s merchant shipping legislation. These include: enacting the International … Continue reading

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OFAC Advisory to Maritime Shipping Industry

On September 20, 2018 the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) issued “OFAC Advisory to the Maritime Petroleum Shipping Community” to alert the shipping industry participants, including insurers, as to sanctions risks relating to petroleum shipments to … Continue reading

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