Tomer Raanan

The port of Los Angeles had its best first quarter outside of the pandemic as strong consumer demand buoyed imports, while March exports reached their highest level since January 2020. Chief executive Gene Seroka expects a strong US economy to keep supporting cargo volumes

‘Shipping is not a target with no victims. Innocent seafarers have been killed, seafarers are being held hostage. This would be unacceptable on land and it is unacceptable at sea.'

Ofac says SCG Plastics caused US financial institutions to unknowingly process $300m in Iranian HDPE sales by falsifying shipping documents, with the settlement underscoring the agency's intent to penalize companies that conceal sanctioned entities' involvement leading to unknowing US transaction handling

A bill that calls for the imposition of sanctions on ports, vessels, shipping companies and refineries that knowingly process or carry Iranian oil or productions passed the US House of Representatives on Saturday and will likely be signed into law this week

Scrutiny of Iran's sanctioned energy trade tends to centre on the oil exports and the dark fleet servicing it. However, robust Chinese demand, coupled with growing Iranian output and deep discounts have propelled Iran's liquid petroleum gas exports far above pre-sanctions levels, helped by a growing fleet of ageing gas carriers

The US is continuing to slap sanctions on ships and companies facilitating sales of Iranian oil for the benefit of the regime's armed forces. Almost 30 vessels have been targeted by Ofac since the year began

Eastmed-managed Cycaldes sustained damage from a Houthi attack, UKMTO said. The militants confirmed targeting the vessel – which called in the Houthi-controlled port of Saleef in mid-April – and also claimed to have hit an MSC boxship and US naval assets

Authorities closed the temporary Fort McHenry channel that opened on Thursday as efforts shift to remove the Dali. The channel's opening allowed for most vessels that were stranded at the port since March 26 to depart

The US announced hundreds of fresh designations on Wednesday, including several aimed at Novatek's Arctic LNG 2 project, which is already being hampered by western sanctions

The US has sanctioned 25 tankers and four LPG carriers year to date owing to Iran links. These measures have thus far not had a major impact on exports of crude and condensates, according to preliminary figures from tanker trackers at UANI, but the effect could become more pronounced the coming months