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On 14 May 2020, the U.S. Departments of State and Treasury, and the U.S. Coast Guard, issued a global advisory to alert multiple industry sectors, including the maritime industry, to deceptive shipping practices used to evade sanctions imposed on Iran, North Korea, and Syria.
BIMCO’s Documentary Committee (DC) will have a busy agenda when they meet on 5 December. The DC will consider for approval new sanctions clauses for time and voyage charter parties. They will also review progress on a new edition of GENCON and be asked to provide feedback on other projects ranging from a sale and leaseback term sheet to an accommodation support vessel charter party.
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistical challenges started to emerge. Two years after the start of the war in Ukraine, sanctions on Russia are limiting the country’s ability to export coal.
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.
The United States Office of Foreign Assets Control (OFAC) has expanded sanctions against Iran and issued an advisory to the shipping community.
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+45 44 36 68 00Lines are open Mon-Thurs 08:30-17:00 (CET) Fri 08:30-16:00 (CET)