Sunday, May 28, 2023
HomeHeadlinesSovcomflot Tankers Find Sanctions Refuge in the Bahamas


To our FREE newsletter
Get all the latest maritime news delivered straight to your inbox.

Sovcomflot Tankers Find Sanctions Refuge in the Bahamas

At least three tankers controlled by Russian maritime powerhouse Sovcomflot that have been unable to deliver their cargoes due to Western sanctions have re-routed to the Bahamas, vessel tracking data showed on Monday.

Russian state-owned Sovcomflot was blacklisted by the United States last month over Moscow’s invasion of Ukraine. Britain and Canada also banned vessels flagged, operated or owned by Russia from docking at their ports.

Sovcomflot oil and refined products tankers SCF Don, SCF Neva and SCF Ussuri since the weekend signaled the Bahamas as their destination, after rerouting from other nations, according to Refinitiv Eikon tracking data.

It showed that some of the vessels have begun discharging off the Caribbean nation through ship-to-ship transfers – a move by some receiving companies to avoid direct dealings with Russia-related assets at terminals, an insurance industry source said.

Bahamian Minister of Foreign Affairs Fred Mitchell on Monday said the country has not made a formal decision over sanctions.

“It’s an evolving story. I will brief the parliamentary group this evening and will brief the Cabinet in the morning,” he said on the sidelines of an event in Nassau.

Bahamian Attorney General Ryan Pinder declined to comment.

The United States has not yet imposed a wider ban on other Russian tanker operators, but has said it is considering energy sanctions as it continues putting pressure on Russia’s economy.

Source: Reuters

Related Posts


Finance & Economy
Shipping News

Seanergy ‘well positioned to benefit from positive trend in Capesize market’

Seanergy Maritime Holdings Corp., announced its financial results for the first quarter ended March 31, 2023, and declared a quarterly dividend of $0.025 per...

Dorian LPG sees Q1 revenue more than double year-on-year

Dorian LPG reported its financial results for the three months and fiscal year ended March 31, 2023. Highlights for the Fourth Quarter Ended March 31, 2023 Revenues of $133.6 million.Time...

Navios Holdings Posts $14.5 Mln Net Income in Q1

Navios Maritime Holdings Inc., reported its financial results for the first quarter ended March 31, 2023. Navios Holdings owns (i) a controlling equity stake...

BW LPG posts ‘strongest quarterly performance on record’

BW LPG has recorded its ‘strongest quarterly performance on record’ in the first three months of 2023. The company was boosted by strong exports...

ONE, Wan Hai agree to pay civil penalties to FMC

Ocean Network Express (ONE) will pay a US$1.7 million civil penalty to avoid a formal investigation by the US Federal Maritime Commission (FMC) for...

Nikolaus H. Schües elected BIMCO President

BIMCO has elected Nikolaus H. Schües , CEO and owner of Reederei F. Laeisz,...

Baltic Dry Bulk Index Ends Worst Day In Over Three Months

The Baltic Exchange’s main sea freight index declined the most since mid-February on Thursday...

Maritime UK appoints new Chief Executive Officer

Maritime UK, the umbrella organisation for the UK’s maritime sector, has appointed Chris Shirling-Rooke...

Baltic dry bulk index extends slide for 10th straight session

The Baltic Exchange’s main sea freight index of shipping rates for dry bulk commodities...

Baltic index hits over two-month trough on lower rates across vessels

The Baltic Exchange’s main sea freight index slumped to its lowest level in over...

DP World Completes Terminal Expansion Project Vancouver Port

DP World has completed the AED954 million ($259.78 million) Centerm expansion project, increasing container throughput at the Port of Vancouver by 60 percent. The terminal...

DP World completes AED 954 million Vancouver port expansion

DP World and the Vancouver Fraser Port Authority have celebrated two historic events – the completion of the Centerm Expansion Project at DP World...

Alexandroupolis port gets 24 million euros of EU funding

Greece has secured 24 million euros ($26 million) in European Union funding to upgrade its northern Aegean Sea port of Alexandroupolis, privatisation agency HRADF...

Port Hedland Iron Ore Exports Down 5% in April

Pilbara Ports Authority (PPA) has delivered a total monthly throughput of 57.7 million tonnes (Mt) for April 2023. This throughput was a two per cent...

APM Terminals Reveals $1 Billion Investment in Brazil

APM Terminals’ CEO Keith Svendsen has pledged an investment of about US$1 billion in the company's Brazilian operations up to 2026. The amount includes around...