|
The United Kingdom Mutual Steam Ship
Assurance Association (UK Club), the
largest of the protection and
indemnity clubs has issued a
reminder to its shipowner members
that failure to strictly comply with
United Nations sanctions against
Iraq could lead to severe penalties
and may prejudice insurance cover.
The Club said there are only two
loading facilities that are
permitted by the UN to export oil
from Iraq, Mina al-Bakr off the
southern coast of Iraq and Ceyhan in
Turkey, at the end of a pipeline
from Iraq.
The UK Club which provides P&I cover
for several leading shipping lines,
issued the reminder in the wake of
the Tsakos controlled suezmax
tanker, Argosea, caught up in a row
about potential smuggling of oil
loaded at Khor al-Amaya, says no
other loading facilities or ports
have been authorised by the UN.
Rumour that the million barrel cargo
of the 155,000 dwt tanker Argosea is
being transhipped to another vessel
are not being commented on by Harry
Hajimichael, the general manager of
Tsakos Shipping & Trading.
The UK Club specifically warned that
transhipment was not permitted
unless specifically authorised.
The UK Club said it had issued the
bulletin to outline the requirements
that had to be met to ensure lawful
compliance with UN sanctions
following reports of oil being
exported under exceptions to the
usual conditions.
The club reminds members that
comprehensive sanctions have been
imposed on Iraq since 1990 and the
main exception to the trade ban is
the Oil for Food programme, which
allows export of a limited amount of
Iraqi oil for humanitarian purposes.
"Members trading to Iraq must ensure
strict compliance with the UN
sanctions regime. Failure to abide
strictly with UN sanctions could
result in the imposition of severe
penalties and may prejudice club
cover, as well as other owner
insurances," the UK Club bulletin
concludes. |
