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The OFAC has designated 10 entities and 17 vessels as blocked property under Executive Order 13846 for ties to the NIOC and Triliance Petrochemical. Credit: anucha sirivisansuwan / Shutterstock 

The US has intensified sanctions on Iran’s petroleum and petrochemical sectors to curb the regime’s energy revenue, targeting Iran’s ghost fleet of oil tankers in response to its direct attacks on Israel.

The US Department of the Treasury, in coordination with the State Department, has leveraged Executive Order 13902 to target a broader range of activities related to Iran’s trade in these sectors.

This move aims to cut off financial resources that could support Iran’s nuclear programme, missile development, and terrorist networks.

The Office of Foreign Assets Control (OFAC) has designated 10 entities across various jurisdictions and identified 17 vessels as blocked property, under Executive Order 13846, due to their involvement with the National Iranian Oil Company (NIOC) and Triliance Petrochemical.

Additionally, the State Department has sanctioned six entities and identified six vessels for engaging in significant transactions involving Iranian petroleum products. These actions target a substantial portion of the fleet and operators facilitating Iran’s petroleum exports.

US-based maritime transportation company FlyTahoe has collaborated with Swedish technology company Candela to introduce a new electric ferry at Lake Tahoe, a freshwater lake in the Sierra Nevada Mountains, California.

The Candela P-12 electric ferry is expected to help alleviate the growing congestion problem faced by the 15 million visitors to the region each year.

The hydrofoil electric ferry is designed to reduce travel time by offering a 30-minute cross-lake service. With its capacity for 30 passengers and ample space for sports equipment, the P-12 is expected to become a vital link to the region’s ski resorts and biking trails.

The P-12, the world’s first electric hydrofoil ferry, features hydrofoil technology that enables it to glide above the water at high speeds. The technology reduces drag and energy consumption by 80% compared to traditional vessels, according to its developers.

Japanese company Mitsubishi Heavy Industries has developed a satellite system, Artificial Intelligence Retraining In Space (AIRIS), which uses AI technology to detect ‘dark ships’ from space.

The dark ships often switch off their automatic identification system to avoid detection, posing challenges to maritime security.

Satellite mapping has traditionally been crucial in identifying these covert ships, but the process has been hampered by limited data transmission capacity and the need for extensive human analysis.

AIRIS, with its on-board AI, will streamline this task by selectively transmitting relevant data for efficient processing. It combines an earth-observation camera with an AI-powered data processor.

This device captures images of terrestrial objects, as well as processes the visual data in space to detect specific targets such as ‘dark ships’.

COSCO Shipping Ports has taken stakes in two container terminals at Laem Chabang Port for $110m.

The deal saw Cosco Shipping Ports acquire 12.5% and 30% equity stakes in Thai Laemchabang Terminal (TLT) and Hutchison Laemchabang Terminal (HLT), respectively, which are controlled by Hutchison Port Group.

It encompasses Berths A2 in TLT and Berths A3, C1-C2, and D1-D3 in HLT, with the latter still under construction. Once fully operational, the total capacity is expected to reach about 6.7 million twenty-foot equivalents annually.

TLT and HLT are the largest terminal operators within Laem Chabang Port, which is situated southeast of Bangkok and is responsible for nearly 80% of Thailand’s total throughput.

The Thai government’s active support for the port’s development, with projects such as the Thailand Eastern Economic Corridor, ensures ongoing infrastructure expansion. This acquisition is crucial for Cosco Shipping Ports, as Laem Chabang Port is a primary port of call for the company’s dual brands in Thailand.

Alaskan government contractor Goldbelt has entered a partnership with Royal Caribbean Group to co-develop a new cruise port on Douglas Island in Juneau, Alaska, US.

This initiative will aim to enhance the city’s infrastructure, reduce downtown traffic congestion, and improve the experience for both locals and visitors.

The designs of the proposed port, on land under the Alaska Native Claims Settlement Act, feature two floating berths with views of the Chilkat Range.

A recreated 1800s Alaska Native Tlingit village will offer visitors an experience of the Goldbelt shareholders’ ancestral history through storytelling, art, dance, and traditional cuisine.

The development will be integrated with existing whale-watching operations, allowing guests to embark directly from West Douglas Island for tours or shuttle boats to Mendenhall Glacier. The port’s location along major cruise routes will offer environmental benefits by reducing travel time, speed, and fuel consumption for ships heading to other Alaskan destinations.