The USA have pinned 14 of Sovcomflot's tankers, the 'Anatoly Kolodkin' NS Antarctic', 'NS Lion', 'Ns Consul', 'Ns Burgas', Ns Captain' 'NS Columbus', 'Sakhalin Island', 'Nevskiy Prospect', 'Georgy Maslov', 'Liteyny Prospect', 'Krymsk' 'Ns Creation' and 'Ns Bravo', giving the Russian shipping company 45 days to unload oil and other cargo. The company is being prosecuted for violating the crude price cap in force since December 2022. This battalion of clandestine ships, owned by companies with opaque ownership to conceal illicit operations, has been in the crosshairs of the Western coalition for many months with widely documented practices such as STS oil transfer operations and deactivation of AIS, with the fleet constantly expanding. The Office of Foreign Asset Control of the Treasury (OFAC) has designated the 14 tankers in which Sovcomflot has an interest, and in particular 12 of the 75 vessels operated by the Oil Tankers SCF Management FZCO, a company which had to inherit part of of the SCF fleet when the latter was forced to sell or disperse to companies abroad following international sanctions. The first inclusion of SCF on the international sanctions list (United Kingdom, European Union, Australia, Canada, New Zealand, etc.) dates back to 2022 and concerned financial transactions involving long-term debt or new shares. The company has 45 days to unload oil and other cargo, but OFAC has not banned transactions for its other tankers and has even made it clear to oil traders that they can continue to use the large majority of the Russian carrier's fleet without repercussions, which claims 147 ships. Capping the price of oil, which consists of applying a discount per barrel of crude compared to the market price but without harming the stability of international markets, aims to limit the resources that Russia earns from the sale of hydrocarbons. Russia sold its oil in January at a discount of $19 per barrel compared to Brent (international benchmark) compared to $12 to $13 per barrel in October. With a barrel at this price, Russia therefore received 75% of the oil revenue it should have received, or 25% less. At the same time, Russian military spending has increased by 60%, leading many observers to say that the system is ineffective, due to a lack of monitoring and control means. 196 tankers, identified as belonging to the clandestine fleet, had left Russian ports in December 2023. Five new shipping companies based in the United Arab Emirates have started to transport Russian crude since November 2023. The US Treasury has sanctioned 27 oil companies for violating the price cap since October, when the cap was implemented.
News
JASMINE
A joint operation by the Nigerian Navy and the Cameroonian Navy has led to the interception of the 'Jasmine', laden with 30,000 litres of crude oil suspected to have been stolen from Nigeria. The Navy ship NNS 'Victory' inspected the vessel on Feb 24, 2024, at the Ibaka in Mbo Local Government Area of Akwa Ibom. The tanker was spotted within Nigerian territorial waters following credible intelligence and collaboration with the Eastern Naval Command Centre. The Nigerian Navy patrol boat NNS 'Ekulu' was sent to intercept the suspected vessel and interrogate the crew. Upon noticing the NNS 'Ekulu', the suspected vessel proceeded to the international waters between Nigeria and Cameroon, just as the NNS 'Ekulu' was in its hot pursuit. With the support of the Cameroonian Navy, the vessel was intercepted and brought to Ibaka with eight Nigerians on board. The captain of the intercepted vessel, Mr Pere-Ebiye Abraham, claimed its ownership and said he went into illegal bunkering because of hardship. He had used to use the vessel to ferry planks from Nembe Waterside in Rivers, but the business dwindled and he had to switch to illegal bunkering. It was the second time he was moving crude of about 30,000 litres from around the Babangida Platform to an illegal refinery in creeks. Report with photo: https://dailytimesng.com/nigerian-cameroonian-navies-nab-vessel-laden-with-stolen-crude/
ANATOLY KOLODKIN
The USA have pinned 14 of Sovcomflot's tankers, the 'Anatoly Kolodkin' NS Antarctic', 'NS Lion', 'Ns Consul', 'Ns Burgas', Ns Captain' 'NS Columbus', 'Sakhalin Island', 'Nevskiy Prospect', 'Georgy Maslov', 'Liteyny Prospect', 'Krymsk' 'Ns Creation' and 'Ns Bravo', giving the Russian shipping company 45 days to unload oil and other cargo. The company is being prosecuted for violating the crude price cap in force since December 2022. This battalion of clandestine ships, owned by companies with opaque ownership to conceal illicit operations, has been in the crosshairs of the Western coalition for many months with widely documented practices such as STS oil transfer operations and deactivation of AIS, with the fleet constantly expanding. The Office of Foreign Asset Control of the Treasury (OFAC) has designated the 14 tankers in which Sovcomflot has an interest, and in particular 12 of the 75 vessels operated by the Oil Tankers SCF Management FZCO, a company which had to inherit part of of the SCF fleet when the latter was forced to sell or disperse to companies abroad following international sanctions. The first inclusion of SCF on the international sanctions list (United Kingdom, European Union, Australia, Canada, New Zealand, etc.) dates back to 2022 and concerned financial transactions involving long-term debt or new shares. The company has 45 days to unload oil and other cargo, but OFAC has not banned transactions for its other tankers and has even made it clear to oil traders that they can continue to use the large majority of the Russian carrier's fleet without repercussions, which claims 147 ships. Capping the price of oil, which consists of applying a discount per barrel of crude compared to the market price but without harming the stability of international markets, aims to limit the resources that Russia earns from the sale of hydrocarbons. Russia sold its oil in January at a discount of $19 per barrel compared to Brent (international benchmark) compared to $12 to $13 per barrel in October. With a barrel at this price, Russia therefore received 75% of the oil revenue it should have received, or 25% less. At the same time, Russian military spending has increased by 60%, leading many observers to say that the system is ineffective, due to a lack of monitoring and control means. 196 tankers, identified as belonging to the clandestine fleet, had left Russian ports in December 2023. Five new shipping companies based in the United Arab Emirates have started to transport Russian crude since November 2023. The US Treasury has sanctioned 27 oil companies for violating the price cap since October, when the cap was implemented.
MV BRP DATU SANDAY
The Philippines on Feb 25, 2024, accused the Chinese Coastguard of attempting to block the BRP 'Datu Sanday' from delivering supplies to fishermen, the second such alleged incident near a disputed reef in two weeks. The BRP 'Datu Sanday' was supplying fuel to fishermen near the Scarborough Shoal when it was harassed by a China Coast Guard vessel and three other Chinese ships on Febr 22. Three of the four Chinese vessels came within 100 metres of the bow. An incident report also listed shadowing, vessel transponder jamming and other dangerous manoeuvres. Despite these manoeuvres, the naster of the ship managed to evade the blocking attempts. A week earlier, the BRP 'Datu Tamblot' had a similar encounter in the area.
FLOATING BRIDGE 6
The 'Floating Bridge 6' will always need a boat to help push it during spring tides, a report has found. A review of the ferry in Cowes concluded that no changes to the current vessel would allow it to cope with the strongest fast-flowing spring ebb tides. The report by consultancy firm 3S, costing almost £50,000, looked at recommendations and options for the future for the council-owned service. An agreement with Solent and Wightline Cruises to provide a support barge, the 'Seaclear' is due to run out in 2025, but could be extended. The barge is used to keep the chain ferry running in all tides after an issue meant the chains were snagging. The 'Floating Bridge 6' is more than 100 tonnes heavier than its predecessor. A lighter, radically redesigned smaller vessel would go some way towards achieving the required chain depth and resolving berthing issues. The Isle of Wight Council is considering its options and if it was to get an electric vessel, which is the authority's leader's preferred choice, it could be faster and reduce downtime. The report is due to be discussed at a meeting of the council's scrutiny meeting on Feb 27, 2024. The vessel has faced a number of issues - last summer a software problem meant it was out of service for a month, costing the council £112,000 in repairs and lost revenue during the summer tourist season. Crossings are also due to be paused for a week while the annual refit takes place from March 4. A launch for foot passengers and cyclists will run but drivers face a 12-mile detour via Newport.