Forex crisis in Pakistan could hit shipping visiting its ports

A severe foreign exchange crisis in Pakistan has begun to hurt the country’s importers, particularly for oil and for containerized freight, according to reports. Pakistan’s national reserves of US dollars were reported to have fallen to less than $4.5b, its lowest level since 2015. A steady outflow...

https://insurancemarinenews.com/insurance-marine-news/forex-crisis-in-pakistan-could-hit-shipping-visiting-its-ports/

Engine room checked every half an hour, captain of fire-destroyed ship tells hearing

Crew members on passenger vessel Spirit of Norfolk (IMO 8861618) checked the engine room of the ship every 30 minutes as a safety precaution and had done so shortly before a fire broke out, the captain of the ship testified on Friday January 27th, the second day of a US Coast Guard formal hearing...

https://insurancemarinenews.com/insurance-marine-news/engine-room-checked-every-half-an-hour-captain-of-fire-destroyed-ship-tells-hearing/

US Coast Guard takes aim at AIS-disabling fishing vessels

The Columbia River unit of the US Coast Guard has taken action against fishing vessels that turn off their AIS in order to keep secret the location of their crab pots. Operating “dark” is a common procedure in the Northwest’s coastal fisheries because fishers do not want their rivals to know where...

https://insurancemarinenews.com/insurance-marine-news/us-coast-guard-takes-aim-at-ais-disabling-fishing-vessels/

EU talks on Russian oil product price caps to continue this week

With the February 5th deadline looming for the setting of a price cap on oil products being exported from Russia via ships with any connection to the EU, the European Commission was reported to be considering a $100-a-barrel cap on Russian premium oil products, with $45 being the cap on discounted...

https://insurancemarinenews.com/insurance-marine-news/eu-talks-on-russian-oil-product-price-caps-to-continue-this-week/

Join Our Newsletter
Enter your email to receive a weekly round-up of shipping news.
icon