Today, Wärtsilä announces that it has completed its orderly exit from the Russian market following its announcement of scaling down activities in April 2022.
Russia has used the United Nations Convention on the Law of the Sea for its own economic and geopolitical interests. One Russian law requires all vessels passing through the Northern Sea Route to be piloted by Russians. The heavy regulation is one among many reasons why major shipping companies often use the Suez and Panama canals—longer, but cheaper and easier, trade routes.
Almost four months after Russia’s invasion of Ukraine, Russian crude oil, Urals, has seen a switch in flow from its traditional market of Europe to Asia.
Russia's theft of Ukrainian grain appears to be ramping up as it continues its war on the country, according to new satellite photos of the Crimean port of Sevastopol.
A Russian merchant ship loaded with grain stolen in Ukraine has been turned away from at least one Mediterranean port and is now in the Syrian port of Latakia, according to shipping sources and Ukrainian officials.
President Joe Biden announced on Thursday the United States will ban Russian-affiliated ships from American ports, joining Canada and European nations in the latest step to pressure Russia over its invasion of Ukraine.
One of the Russian Navy's most important warships is either floating abandoned or at the bottom of the Black Sea, a massive blow to a military struggling against Ukrainian resistance 50 days into Vladimir Putin's invasion of his neighbor.
The cost of insuring merchant ships sailing to ports in the Black Sea has spiraled out of control, becoming a huge potential impediment to the movement of Russian cargoes from the region.
Shell Plc decided to idle two liquefied natural gas vessels chartered from a Russian company, in the latest example of an energy giant seeking to avoid future sanctions or public condemnation tied to the war in Ukraine.
