Category: Venezuela
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US forces seize sixth tanker linked to Venezuelan trades
US forces seize sixth tanker linked to Venezuelan trades US Southern Command has apprehended the 2003-built Veronica aframax during a pre-dawn operation yesterday, the sixth tanker with Venezuelan links to be taken by American forces in recent weeks. The Veronica, previously known as Pegas and Lana, has a troubled history; it was seized by Greek…
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US targets ‘dozens’ of Venezuela‑linked tankers in shadow fleet squeeze
US targets ‘dozens’ of Venezuela‑linked tankers in shadow fleet squeeze The United States is gearing up to grab a lot more Venezuela‑linked tonnage, with scores of seizure warrants now in play as Washington tightens its grip on the country’s oil exports and the shadow fleet that moves them. According to sources quoted by Reuters, the…
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US tightens naval grip on Venezuelan oil exports with new tanker seizure
US tightens naval grip on Venezuelan oil exports with new tanker seizure US forces are continuing the pressure on Venezuela with the seizure of a third tanker in just two days. Maritime security specialist Vanguard said that the falsely flagged Timor-Leste tanker Olina had been seized by US forces in the Caribbean after breaking away…
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Splash Wrap: US incursion into Venezuela dominates coverage
Splash Wrap: US incursion into Venezuela dominates coverage The tanker market grappled with fresh uncertainty all week after the arrest of Venezuelan president Nicolás Maduro in a dramatic US military operation over the weekend, an event that has effectively frozen the country’s oil exports and reinforced Washington’s hardline approach to maritime enforcement. The Trump administration…
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US seizes renamed Venezuela-linked VLCC after weeks-long chase
US seizes renamed Venezuela-linked VLCC after weeks-long chase The US forces have seized two Venezuela-linked tankers, one after a two-week chase, a name change, and reports of a Russian submarine nearby. One of the tankers seized by US authorities is the 2002-built VLCC Marinera, formerly known as the Bella 1. While still under its previous…
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U.S. seizes Venezuela-linked tankers Bella I and Sophia
U.S. seizes Venezuela-linked tankers Bella I and Sophia In a post on X, Secretary of Homeland Security Kristi Noem says that in two predawn operations today, the Coast Guard conducted back-to-back meticulously coordinated boarding of two “ghost fleet” tanker ships— one in the North Atlantic Sea and one in international waters near the Caribbean. Both…
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Venezuela crisis widens gap between mainstream and grey tonnage
Venezuela crisis widens gap between mainstream and grey tonnage The extradition of Venezuelan president Nicolás Maduro to the United States has sent fresh ripples through tanker markets, not because barrels have suddenly disappeared, but because the political shock is reshaping trade routes, risk appetite and the definition of what constitutes tradable tonnage. Brokers and analysts…
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Oil oversupply risks and global crude trade realignment loom with Venezuela’s regime change
Oil oversupply risks and global crude trade realignment loom with Venezuela’s regime change As Venezuela faces a regime change, the country’s production recovery is staring at a decade-long timeline despite near-term supply gains, according to Wood Mackenzie, an energy intelligence group, which believes that additional Venezuelan barrels could pressure Brent prices below mid-to high $50 per…
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Second tanker seized as US tightens Venezuela oil net
Second tanker seized as US tightens Venezuela oil net US authorities have intercepted and boarded an oil tanker carrying Venezuelan crude east of Barbados, marking the second seizure of a vessel linked to Venezuela’s oil trade and the first since President Donald Trump ordered a blockade on sanctioned tankers moving to and from the country.…
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Sanctions enforcement intensifies as US seizes third Venezuela-linked tanker
Sanctions enforcement intensifies as US seizes third Venezuela-linked tanker US authorities have seized a third oil tanker linked to Venezuela after a pursuit in the Caribbean Sea. This is also the second tanker seized by US forces in less than 24 hours. The US Coast Guard tried to intercept the 2002-built VLCC Bella 1 late…
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Trump moves to choke Venezuelan oil shipping with ‘total and complete’ tanker blockade
Trump moves to choke Venezuelan oil shipping with ‘total and complete’ tanker blockade In a major escalation of maritime pressure on Caracas, US president Donald Trump has ordered “a total and complete blockade of all sanctioned oil tankers going into, and out of, Venezuela,” intensifying efforts to squeeze president Nicolás Maduro’s lifeline crude exports. The…
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US identifies dozens of tankers for possible seizure
US identifies dozens of tankers for possible seizure Washington is gearing up for a wave of tanker seizures off Venezuela as the Trump administration revives and escalates sanctions enforcement against the country’s oil trade. A day after announcing the dramatic capture of a stateless VLCC (pictured) carrying sanctioned Venezuelan crude, the US treasury on Thursday…
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U.S. adds more Venezuela-linked tankers to sanctions list
U.S. adds more Venezuela-linked tankers to sanctions list The U.S. Treasury’s Office of Foreign Assets Control (OFAC) yesterday issued new sanctions on the Venezuelan oil sector that included six shipping companies and six ships associated with them. This has led to media and industry speculation that they could be subject the same sort of seizure…
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The floating dead: oversight lags behind the rise of zombie vessels
The floating dead: oversight lags behind the rise of zombie vessels Maritime identity laundering and the rise of so-called zombie vessels have evolved from a niche tactic into a “systemic enabler of large-scale sanctions evasion” with global authorities unable to keep up, according to a new report from Kpler, a maritime analytics platform. “Zombie vessels…
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US axes Shell and BP’s licenses for cross-border gas fields
US axes Shell and BP’s licenses for cross-border gas fields The U.S. Office of Foreign Assets Control (OFAC) has changed its mind about two special licenses – operated by the UK-headquartered Shell and BP, respectively – for gas fields straddling the maritime boundary between Venezuela and Trinidad and Tobago. The post US axes Shell and BP’s licenses…
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US order sets date for Chevron to grind oil exports from Venezuela to a halt
US order sets date for Chevron to grind oil exports from Venezuela to a halt Chevron has been given a 30-day deadline to bring a wind-down of its crude oil production and exports in Venezuela to an end, as its previous license has been revoked by the U.S. Treasury Department’s Office of Foreign Assets Control…
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Audit finds more than 80% of sanctioned ships have no confirmed insurance
Audit finds more than 80% of sanctioned ships have no confirmed insurance The number of vessels hit by sanctions has surpassed 1,000 with data from S&P Global Market Intelligence showing that more 800 of these ships do not have confirmed insurance. Moreover, the average age of sanctioned ships – 21 years – is some eight…
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Major Chinese port group bans tankers on OFAC’s sanctions list
Major Chinese port group bans tankers on OFAC’s sanctions list Shandong Port Group has banned any tanker sanctioned by the US from calling at its ports. The group oversees major ports on China’s northeast coast including Qingdao, Rizhao and Yantai, which are among the biggest destinations for sanctioned oil from Russia, Iran and Venezuela. Reuters…