In 2024, despite the US reimposing broad sanctions after General License 44 expired in April, Venezuela sustained significant oil exports, higher than those in 2019 – primarily to refineries in China, India, but also Turkey, Spain, and Brazil, with additional flows to Colombia, Cuba, and Panama.
Significant quantities of Venezuelan oil were exported to Asia, in part due to temporary US authorisations, such as Chevron’s operations, and non-Western demand, although volumes faced sanctions headwinds near the end of December.
On December 16th, 2025, the US government ordered a total blockade of all sanctioned Venezuelan oil tankers entering or leaving ports, targeting Maduro’s oil revenue amid accusations of drug trafficking and asset theft.

On August 30th, two Grey Fleet crude oil tankers conducted an STS transfer in the Laconicos Kollpos, Greece. Satellite imagery analysed by Skytek captured a significant oil spill during the operation, with the pollution trace spreading across an 8-square-kilometre area, highlighting the environmental threat posed by these unregulated vessels.

At around 12:30 AM local time (04:30 UTC) on June 9, 2025, the container ship Wan Hai 503 was rocked by a major explosion amidships, sparking a fire about 130 nautical miles northwest of Kerala’s coast, India. The blaze quickly spread along nearly the entire 269-meter vessel, which was sailing from Colombo, Sri Lanka, to Nhava Sheva, Mumbai, with approximately 650 containers on board.

Morning Midas is a Liberian-registered car carrier built in 2006, managed by UK-based Zodiac Maritime. The vessel has a capacity of nearly 5,000 vehicles across 12 decks and specialises in transporting a mix of conventional, hybrid, and electric vehicles on global routes between Asia and the Americas. On its most recent voyage, Morning Midas was carrying a large consignment of vehicles—including electric models—when a fire broke out onboard, reportedly originating from a deck with electric vehicles and suspected to involve lithium-ion batteries.

The iconic Formula 1 race transforms Monaco’s harbour into a spectacular floating luxury marina, attracting some of the world’s largest and most prestigious superyachts. These yachts offer exclusive vantage points for race viewing, seamlessly blending the thrill of high-performance motorsport with the sophistication of the high-end yachting lifestyle. The Monaco Grand Prix weekend, which this year happened from 22nd to 25th May, has seen a dense aggregation of pleasure boats and superyachts concentrated near the circuit.