Search results for: asset freeze

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  • 11 May 2015
    Business & Finance

    Two banks have frozen Sainty Marine’s assets, the Chinese shipbuilder said in a filing with Shenzhen stock exchange.   Namely, the Bank of China has frozen its account with balances of RMB 1.06 million (USD 170,800) whereas Export-Import Bank of China (Exim Bank) has frozen a dual-currency account with balances of RMB 22.99 million and USD 2,491.78, the […]

  • 14 March 2016
    Business & Finance

    The seized North Korean cargo ship MV Jin Teng has received a notice of asset freeze from the Philippine Coast Guard, local media reported. The station commander of the Subic Philippine Coast Guard said that the captain of the 1997-built cargo vessel did not object the notice. The notice comes in response of the new, stricter sanctions imposed […]

  • 19 December 2016
    Business & Finance

    The United Nations Security Council has removed five merchant vessels from a list of economic resources controlled or operated by a North Korean shipping company with reported links to illegal arms trade. On December 17, the Security Council Committee established that the five vessels in question are not economic resources controlled or operated by Ocean Maritime […]

  • 26 February 2015
    Business & Finance

    A North Korean shipping company, blacklisted by the United Nations, has been renaming and reflagging its vessels to avoid an arms embargo, the UN said in a report. Namely, the U.N. Security Council committee imposed sanctions on Ocean Maritime Management (OMM) for smuggling Soviet-era arms from Cuba on board its ships. Under the sanctions, the company is subject to an […]

  • 2 March 2016

    The United Nations Security Council today unanimously adopted the US-led resolution that imposes new sanctions and tightens some of its existing measures against the Democratic People’s Republic of Korea (DPRK). The strengthened measures come in response to the country’s ongoing nuclear and ballistic missile-related activities that “threaten international peace and security,” the UN Security Council said. The new […]

  • 25 March 2016

    North Korean cargo ship M/V Jin Teng has been released by the Philippine authorities after being held in the country for almost a month on the grounds of the newly-imposed UN sanctions against Pyongyang, Reuters reports. The decision follows the UN Security Council’s decision from earlier this week to remove the ship from its blacklist of 31 North Korean […]

  • 12 September 2014

    The Council of the European Union on Thursday announced that strengthened EU sanctions against Russia, for its involvement in the Ukraine crisis, will enter into force upon the publication of the legal acts in the EU Official Journal on Friday. They include the following measures: Restrictions on Russia’s access to EU capital markets have been strengthened. […]

  • 2 April 2018
    Rules & Regulation

    UN adds 27 ships to its blacklist as part of its clamp down on North Korea over its nuclear program.

  • 25 July 2017
    Business & Finance

    The United Nation Security Council’s Committee on Libya has added an oil product tanker Capricorn to its list of individuals and entities subject to the assets freeze.  The Tanzanian-flagged vessel Capricorn (IMO: 8900878) was listed on 21 July 2017, on the grounds of “illegal” transportation of gasoil, a refined petroleum product. The product was “illicitly exported […]

  • 30 July 2014
    Business & Finance

    The U.N. Security Council committee has imposed sanctions on Ocean Maritime Management, operator of a North Korean ship seized near the Panama Canal last year for smuggling Soviet-era arms from Cuba. Under the sanctions, issued by the UN Council’s North Korea (DPRK) sanctions committee, the company is now subject to an international asset freeze and […]

  • 18 December 2014
    Business & Finance

    In a reaction to the ruling from Beirut court on suspension of asset freeze of CMA CGM Chief’s company in Lebanon, previously ordered by the Supreme Court of Damascus, Mr. Johnny R.Saadé said that the judgement from Damascus  is final and irrevocable. Under the judgement, Head of the French shipping giant CMA CGM, Mr. Jacques Saadé and […]

  • 3 March 2017
    Business & Finance

    The European Union has implemented new sanctions against the Democratic People’s Republic of Korea (DPRK), affecting the shipping comunity by prohibiting chartering vessels or providing crew services to the country. The measures, which were adopted by the United Nations Security Council in late November 2016, were introduced in response to Korea’s nuclear test conducted in September last […]

  • 22 March 2016

    The UN Security Council has decided to remove four ships from its blacklist of North Korean vessels following a request from China. The Council said on Monday that the vessels in question are not economic resources controlled or operated by North Korean shipping company Ocean Maritime Management and “therefore not subject to the asset freeze”. […]

  • 15 March 2016

    Another North Korean vessel was detained by the Philippines authorities at the Misamis Oriental port in light of the recently imposed stricter sanctions against North Korea, the Manila Bulletin reports. The vessel, which is being held at the country’s Mindanao Container Terminal (MCT), was boarded by customs, immigration, quarantine and security teams for inspection after it arrived at […]

  • 11 September 2014
    Business & Finance

    The EU and the United States seem to be turning up the heat on Russia with plans to ban energy giants like Exxon Mobil, BP and Shell from searching for crude oil in Russia’s Arctic, deep seas and shale formations, writes Bloomberg citing three American officials. The ban would target crude reserves that could yield oil […]

  • 1 August 2014

    On July 29, 2014 the European Council, announced that the European Union had agreed a package of significant additional restrictive measures targeting sectoral cooperation and exchanges with the Russian Federation.   The sanctions imposed on Russia are aimed at banking, energy and defense industries, including the Russian shipping and shipbuilding industry. “These decisions will limit […]

  • 8 April 2019
    Rules & Regulation

    The North Korean tanker is believed to have been involved in a ship-to-ship fuel transfer.

  • 16 July 2015
    Business & Finance

    The United States is reported to have removed the Islamic Republic of Iran Shipping Lines (IRISL) and the country’s ports operator Tidewater Middle East Maritime Company from the US blacklist of companies subject to sanctions and asset freeze, local media reports. The names of 16 shipping executives, including IRISL Managing Director Mohammad Hossein Dajmar, and their […]

  • 16 July 2015
    Business & Finance

    The United States is reported to have removed the Islamic Republic of Iran Shipping Lines (IRISL) and the country’s ports operator Tidewater Middle East Maritime Company from the US blacklist of companies subject to sanctions and asset freeze, local media reports. The names of 16 shipping executives, including IRISL Managing Director Mohammad Hossein Dajmar, and their […]

  • 28 April 2014

    Igor Ivanovich Sechin, head of Russia’s largest oil company Rosneft, has found himself on the U.S. Department of the Treasury’s latest list of sanctions imposed on Russia for involvement in the Ukraine crisis. According to a press release on The U.S. Department of the Treasury website, the U.S. designated seven Russian government officials, including two persons […]

  • 14 March 2016

    With the shipping industry embarking on yet another tough year and owners rushing to preserve their financial stability which had been severely hit by the industry slump and overcapacity, the topic of finance is given a central role. As a result, the recent period has seen owners negotiate new and renegotiate exiting loans to defer payments, […]

  • 17 December 2014
    Business & Finance

    Legal dispute between Johnny Saadé, brother of founder and chairman of French liner giant CMA CGM,  Jacques Saadé, for a stake in the company, has taken another turn. Namely, a Beirut court has thrown out a claim by Johnny Saadé upholding the appeal by CMA CGM Chief against the decision made earlier this month to freeze his company’s […]