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Four tankers sanctioned for illegally transporting sanctioned goods

On June 10, 2024, the U.S. Department of the Treasury announced that the Department of the Treasury's Office of Foreign Assets Control (OFAC) has sanctioned ten individuals, entities, and vessels, including two captains for illegally transporting sanctioned oil and other goods. The illegal activity included operations for the Sa'id al-Jamal network, Houthis Finance Facilitator. The OFAC has sanctioned the captain of the 'Olympics', formerly the 'Lady Sofia' (IMO: 9212759), a sanctioned vessel that continues transporting cargo for the Sa'id al-Jamal network. The OFAC stated that in mid-May, the tanker had used forged paperwork that falsely specified that the vessel was loaded with Malaysian cargo from a Malaysian Port at the end of April. Another sanction by OFAC was against the Captain of the 'La Pearl' (IMO: 9174660), also known as 'Elita', and her commercial manager is Saone Shipping Corporation, which is under sanction by the OFAC. The vessel offloaded the sanctioned cargo and is anchored off the China coast. On June 2, it sailed from Dongjiakou. The tanker 'Janet' (IMO: 9220952), actually en route from Malacca to Singapore with an ETA as of June 18, and 'Bella 1', which was anchoraed off Khor Fakkan as of June 12, were sanctioned for transporting sanctioned cargo for the Concepto Screen SAL Off Shore to southeast Asia. The OFAC has also sanctioned the registered owners of the tankers, the Lainey Shipping Ltd. and the Louis Marine Shipholding Enterprises S.A.

Ageing VLCC changed hands for fifth time in three years

The 'Timimus' has been sold for around $31m. The 21-year-old tanker has changed hands for the fifth time in three years. In 2020, the ship was named 'Seaways Mulan' and sold for $23.5m by the US-based International Seaways to the Oia Shipping. The ship then changed hands to a Chinese outfit called Youfu Shipping which renamed the ship 'Xiao Zhu Shan'. It was then sold again to an undisclosed Hong Kong-registered outfit, and renamed 'Yannis'. It ended up with an outfit called Yangfan Ship Management.