The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) has sanctioned a network of companies that are alleged to be selling fraudulent flags to the Iranian regime’s shadow fleet. The action forms part of Operation Economic Outcast, which is the Trump Administration’s campaign to cut off revenue to the regime in Iran. A statement issued by OFAC notes that for over 10 years, India-based Suniel Kumar Sharma and his wife, Jaspreet Preeti Shahid, have set up companies that pose as the flag registries and maritime service providers of countries and jurisdictions such as Guyana, Eswatini, Aruba, Mali, Mozambique, Malawi, […]

Hapag-Lloyd has announced it has completed the acquisition of a 25% stake in APM Terminals Maasvlakte II in Rotterdam, following unconditional approval by the relevant antitrust authorities. As previously reported by ship.energy, the Hamburg-headquartered container shipping company announced the deal in August. In a statement issued yesterday (5 November), Hapag-Lloyd said the investment strengthens its global terminal portfolio, managed by Hanseatic Global Terminals (HGT), and secures long-term access to handling capacity at ‘one of Europe’s most advanced container terminals.’ ‘We are very pleased to have completed this transaction and become a shareholder in Maasvlakte II,’ said Dheeraj Bhatia, CTIO of […]

The Maritime and Port Authority of Singapore (MPA), the Research Council of Norway (RCN) and the Singapore Maritime Institute (SMI) have launched a joint research grant call to develop solutions to support the decarbonisation of international shipping. Announced today (5 November), the grant call builds on the MPA-RCN Memorandum of Understanding signed in April 2024 on maritime research, development, education and training and will focus on three areas: alternative fuels and energy infrastructure; vessel energy efficiency and emissions reduction; and digitalisation and greener shipping operations. SMI will provide up to S$2.7 million for Singapore research partners, while RCN will make […]