Singapore-based shipping firm Mercantile & Maritime on Tuesday (18 February) said it would cease business operations that are not compliant with US’ Treasury’s Office of Foreign Assets Controls sanctions.
On the same date, the US Treasury’s Office of Foreign Assets Controls announced further sanctions in relation to oil sales from Venezuela, specifically on Russian oil major Rosneft’s Swiss trading arm.
“Following these sanctions, we have reviewed our live arrangements and will implement any necessary measures required to ensure we comply with international requirements in line with the wind-down timeline set by the OFAC general license,” said Mercantile in an official statement.
“As a global business operating across the oil and gas value chain, the Mercantile & Maritime Group operates in full compliance with all international trade laws and maritime regulations.
“We will continue to monitor developments to ensure we remain compliant going forward,” it concludes.
Related: U.S. sanctions Rosneft Trading for brokering Venezuela crude oil deal
Photo credit: Aymanejed
Published: 3 March, 2020
Transferred shares of 40 subsidiaries to BVI firm after tribunal awarded claims in favour of Trinity Seatrading; YSPL has also filed a civil complaint against DNV and Liberian ship registry at Nanjing Maritime Court.
ADNOC L&S, Gulf Energy Maritime, Cockett Marine Oil, Mideast/Bahri Ship Management and VPS experts present their views on biofuel bunker hurdles at the VPS Biofuels Seminar in Dubai on 16 March.
‘Bunker barges operate in very local areas so these vessels call at port very often which means it will be a good fit for women with families,’ states Elpi Petraki, President of WISTA International.
“Our Singapore branch is under preparation and is expected to start business at the republic before June 2023,” Managing Director Darcy Wong tells bunkering publication Manifold Times in an interview.
Development to supply B35 biodiesel blend officially takes effect on 1 February; local bunker suppliers will be able to deliver updated spec within March onwards, once current stocks of B30 avails run out.
VPS, Global Centre for Maritime Decarbonisation, Wilhelmsen Ship Management, and INTERTANKO executives offered a multitude of perspectives to 73 attendees during the VPS Biofuels Seminar, reports Manifold Times.