Maritime data, insights and analytics provider Lloyd’s List Intelligence (LLI) on Tuesday (14 January) announced the acquisition of Infospectrum, an independent provider of counterparty risk appraisal reports & data, due diligence research and KYC intelligence.

The acquisition expands LLI’s ability to deliver analysis and risk management intelligence solutions. 

The integration of Infospectrum’s comprehensive counterparty risk appraisal, due diligence and KYC intelligence capabilities and data, will enable the combined business to provide customers with more accurate, reliable, and timely risk based decision-making solutions. 

With the maritime sector facing increasing complexity from global sanctions, compliance, safety, geo-political and legal considerations, the combination will enable LLI to build solutions that deliver actionable insights and help customers successfully navigate key use cases associated with compliance, risk management and operations.

“The acquisition of Infospectrum is an important milestone for Lloyd’s List Intelligence,” said Michael Dell, CEO, Lloyd’s List Intelligence. 

“This acquisition is a significant step forward in our mission to provide the most comprehensive and insightful risk intelligence solutions that support the global maritime industry. By combining our respective strengths, we will deliver stronger capabilities to our customers and enhance our ability to act as a provider of mission critical data, insights and analytics for the maritime sector as a whole.”

“We are excited to join forces with Lloyd’s List Intelligence,” said Panos Panousis, Managing Director, Infospectrum. 

“This combination will unlock significant opportunities for both companies and provide the maritime ecosystem with access to a broader range of data, analytics, and intelligence. We are confident that together we will accelerate innovation and deliver exceptional solutions to the maritime industry.”

Photo credit: Lloyd’s List Intelligence
Published: 14 January, 2025

The US Treasury Department’s Office of Foreign Assets Control (OFAC) imposed sanctions against two of Russia’s most significant oil producers and exporters, Gazprom Neft and Surgutneftegas.

The actions are underpinned by the issuance of a new determination that authorises sanctions pursuant to Executive Order (E.O.) 14024 against persons operating or having operated in the energy sector of the Russian Federation economy.

Gazprom Neft is a Russia-based, vertically integrated oil company whose core activities include the exploration, production, and sale of oil while Surgutneftegas is a Russia-based, vertically integrated oil company whose core activities include the exploration, production, and sale of oil.

Alongside Gazprom Neft and Surgutneftegas, OFAC is designating more than two dozen Gazprom Neft and Surgutneftegas subsidiaries. 

All entities owned 50 percent or more, directly or indirectly, by Gazprom Neft, Surgutneftegas, or their subsidiaries listed, are also subject to blocking, even if not identified by OFAC.

OFAC also imposed sanctions on over 180 vessels that have shipped Russian oil. 

“Today’s actions also impose sanctions on an unprecedented number of oil-carrying vessels, many of which are part of the “shadow fleet,” opaque traders of Russian oil, Russia-based oilfield service providers, and Russian energy officials,” it said.

“Today’s actions are underpinned by the issuance of a new determination that authorizes sanctions pursuant to Executive Order (E.O.) 14024 against persons operating or having operated in the energy sector of the Russian Federation economy. These actions substantially increase the sanctions risks associated with the Russian oil trade.”

Russia-based fleet and bunker operator Gazpromneft Marine Bunker Limited Liability Company (Gazpromneft Marine Bunker), a Gazprom Neft subsidiary, is involved in the delivery of bunker fuel for vessels. 

OFAC also said Gazpromneft Marine Bunker is being designated pursuant to E.O. 14024 for operating or having operated in the energy sector of the Russian Federation economy and pursuant to E.O. 13662 for operating in the energy sector of the Russian Federation economy.

OFAC is also identifying the following vessels, all of which Gazpromneft Marine Bunker operates, pursuant to E.O. 14024 and E.O. 13662 as property in which Gazpromneft Marine Bunker has an interest:

• Russia-flagged chemical/oil tanker GazpromneftZuid East (IMO 9537109)
• Russia-flagged chemical/oil tanker GazpromneftNordwest (IMO 9590137)
• Russia-flagged chemical/oil tanker Omsk (IMO 9418509)
• Russia-flagged chemical/oil tanker Tymen (IMO 9422653)
• Russia-flagged chemical/oil tanker Olanga (IMO 9286463)
• Russia-flagged chemical/oil tanker Murmansk (IMO 9167930)
• Russia-flagged chemical/oil tanker Dmitry Mendeleev (IMO 9888182)
• Russia-flagged chemical/oil tanker Shturman Shcherbinin (IMO 9759927)
• Russia-flagged chemical/oil tanker Shturman Koshelev (IMO 9759939)
• Russia-flagged chemical/oil tanker Shturman Skuratov (IMO 9759915)

Photo credit: tommao wang on Unsplash
Published: 13 January, 2024

Members of the European Parliament (MEPs) on Thursday (14 November) demanded more targeted EU sanctions against Russia’s so-called ‘shadow fleet’, which provides a key financial lifeline for Moscow’s war in Ukraine.

Russia uses old tankers, often uninsured and with unclear ownership, to export its crude oil and petroleum products abroad, despite EU, G7 and international sanctions. 

In a statement, the MEPs said these activities have also raised fears over the risk of environmental disasters, including severe oil spills. As part of systematic efforts to undermine EU restrictive measures, the ‘shadow fleet’ provides a key financial lifeline for Russia in its illegal and unjustifiable war of aggression against Ukraine.

In a resolution adopted on Thursday, the European Parliament calls for more targeted measures against these vessels in the next EU sanctions packages, including all individual ships as well as their owners, operators, managers, accounts, banks and insurance companies. 

It also demands the systematic sanctioning of vessels sailing through EU waters without known insurance and urges the EU to enhance its surveillance capabilities, especially drone and satellite monitoring, and to conduct targeted inspections at sea. MEPs want EU member states to designate ports capable of handling sanctioned vessels carrying crude oil and Liquified Natural Gas (LNG) and to seize illegal cargo without compensation.

The resolution further calls on G7 countries to better enforce the price cap imposed on Russian seaborne oil, to substantially decrease the oil price cap and to crack down on the loopholes used by Russia to repackage and sell its oil and oil products at market prices. 

Stressing that the impact of existing sanctions and the financial and military support to Ukraine will continue to be undermined as long as the EU imports Russian fossil fuels, the MEPs urge the EU and its member states to ban all imports of Russian fossil fuels, including LNG. 

Pointing towards the need for much stricter enforcement of current EU sanctions, the text also states that the EU should seriously reassess its bilateral cooperation with third countries that are helping Russia circumvent EU restrictive measures in place, if diplomatic efforts are unsuccessful.

Photo credit: Guillaume Périgois on Unsplash
Published: 18 November, 2024