12th July 2025 – 18th July 2025
LOCAL NEWS
No news reported.
INTERNATIONAL NEWS
1. EU sets lower Russian oil price cap from USD 60 to USD 47.6 per barrel, and blacklists over 100 additional tankers
On 18 July 2025, the European Council adopted the 18th package of economic and individual restrictive measures hitting hard on Russia’s energy, banking and military sectors, as well as trade with the EU, and ensuring accountability for Russia’s continued war of aggression against Ukraine. Furthermore, the Council complemented the package by agreeing further measures on Belarus.
The Council has agreed on a significant set of 55 listings, consisting of 14 individuals and 41 entities responsible for actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine, bringing the total number of individual listings to over 2 500.
In particular, the EU is curtailing Russia’s energy revenues through a number of different measures.
The EU is lowering the price cap for crude oil from USD 60 to USD 47.6 per barrel, to align it with current global oil prices and is introducing an automatic and dynamic mechanism to modify the oil price cap and ensure that this price cap is effective.
The EU is also imposing further sanctions across the shadow fleet value chain. An additional 105 vessels will be subject to a port access ban and a ban on the provision of a broad range of services related to maritime transport, bringing the total number of listed vessels to 444.
Full-fledged sanctions (asset freezes, travel bans, bans on providing resources) target Russian and international companies managing shadow fleet vessels, traders of Russian crude oil and a major customer of the shadow fleet – a refinery in India with Rosneft as its main shareholder.
Furthermore, the EU is introducing an import ban on refined petroleum products made from Russian crude oil and coming from any third country – with the exception of Canada, Norway, Switzerland, the United Kingdom and the United States – thereby preventing Russia’s crude oil from reaching the EU market through the back door.
The EU is also imposing a full transaction ban on Nord Stream 1 and 2, including for the provision of goods or services, thus preventing the completion, maintenance, operation and any future use of the Nord Stream 1 and 2 pipelines.
Lastly, the Council decided to end the exemption for oil imports from Russia to Czechia.
Related Articles:
European Council 18/07 - Russia’s war of aggression against Ukraine: EU adopts 18th package of economic and individual measures<https://www.
France24 18/07 - EU agrees 'unprecedented' round of sanctions targeting Russia's oil exports<https://www.france24.
Reuters 18/07 - EU's new Russia sanctions aim for more effective oil price cap<https://www.reuters.com/
Attachment 1: TradeWinds 18/07 - EU sets lower, 'dynamic' Russian oil price cap and blacklists over 100 additional tankers<https://www.
CNBC 18/07 - EU lowers price cap for Russian crude under new sanctions package<https://www.cnbc.com/
2. European Commission Proposal for New Corporate Tax
On 16 July 2025, the European Commission adopted a comprehensive proposal (COM(2025) 574 final) for a new Own Resources Decision that will significantly reshape the EU’s budgetary framework for the post-2027 period. The initiative is part of a broader effort to secure sufficient revenue for the EU budget, repay debts incurred under NextGenerationEU, and reduce the reliance on Member State Gross National Income (GNI) contributions.
Scope and Objectives
The proposal introduces a mix of new and revised revenue sources to bolster the EU’s financing model starting from 1 January 2028, pending unanimous Council approval and ratification by all Member States. The proposed changes aim to:
* Diversify EU budget revenues;
* Strengthen alignment with EU policy priorities, including the Green Deal and digital transition;
* Establish a crisis-response borrowing mechanism backed by temporary increases in budget ceilings;
* Ensure fairer financial contributions from private sector beneficiaries of the Single Market.
The proposal introduces five new or modified revenue streams:
1. EU Emissions Trading System (ETS 1): 30% of auction revenues to flow into the EU budget (~€9.6 billion/year).
2. Carbon Border Adjustment Mechanism (CBAM): 75% of certificate revenues (~€1.4 billion/year).
3. Corporate Resource for Europe (CORE): Lump-sum contributions from very large companies with EU turnover above €100 million (~€11–12 billion/year).
4. Tobacco Excise Duty Own Resource (TEDOR): 15% of harmonised minimum excise revenues (~€4 billion/year).
5. E-waste call: €2/kg of uncollected Waste Electrical and Electronic Equipment (WEEE) (~€3 billion/year).
In addition, the plastics levy will be increased and indexed annually from 2028, and the share of customs duties retained by Member States will be reduced from 25% to 10%.
The proposed measures will have broad implications for several key sectors:
* Heavy industry and energy: Due to ETS and CBAM reforms, sectors such as steel, aluminium, cement, fertilisers, and electricity generation will be directly impacted.
* Large multinational companies: Entities with turnover over €100 million operating in the EU will be subject to fixed annual contributions under the new CORE mechanism.
* Tobacco manufacturers: Increased contributions linked to excise duty harmonisation.
* Electronics and retail: Obligations to improve WEEE collection and reporting.
* Customs and logistics: Member States will need to streamline customs collection processes and adapt to reduced retention of duties.
Implications for the Shipping Sector
The shipping industry is not directly targeted by the proposed new own resources. However, indirect impacts may arise as Shipping companies with large EU turnover above €100 million may be impacted only if they fall under the scope of the CORE contribution, though this remains subject to further clarification during implementing acts.
The Emissions Trading System (ETS)-based own resource remains a backbone of the Commission’s proposals, as it is closely linked to the Union’s climate targets and has significant revenue potential. With 30 % of revenue going to the EU budget, most revenue from the auctioning of emission allowances would continue to flow to national budgets. Furthermore, the Commission decided to re-focus solely on revenues from the emissions trading system (ETS1) that is already in place and not base the own resource on the new emissions trading system on road transport and buildings (ETS2).
Next Steps
The proposal requires unanimous adoption by the Council and ratification by all Member States. If approved in time, the framework would enter into force on 1 January 2028, with the CORE mechanism starting from the first calendar year after entry into force.
A first orientation debate is expected under the Belgian Presidency in early 2026, with detailed negotiations continuing throughout that year. Industry stakeholders, including the shipping sector, are advised to monitor developments closely, particularly any potential extension of the ETS own resource scope to include maritime activities.
Related Articles:
COUNCIL DECISION 16/07 - on the system of own resources of the European Union and repealing Decision (EU, Euratom) 2020/2053<https://commission.
Financial Times 16/07 - Von der Leyen’s €2tn EU budget proposal hit by chaotic infighting<https://www.ft.com/
Reuters 16/07 - EU proposes tax on companies with turnover above 100 million euros to shore up budget<https://www.reuters.
The Guardian 17/07 - Von der Leyen calls for new EU taxes on big firms in €2tn budget proposal<https://www.
Politico 18/07 - Von der Leyen’s plan to tax EU business looks doomed from the start<https://www.politico.eu/
3. U.N. extends monitoring of Houthi attacks in the Red Sea
On 15 July 2025, the UN Security Council adopted Resolution 2787 (2025), extending monthly reporting on Houthi rebel attacks in the Red Sea through 15 January 2026.
The resolution, cosponsored by the United States and Greece, comes amid continued violations by the Houthis, who have ignored previous Council demands to cease attacks on commercial vessels.
The resolutions passed with majority support.
* Abstentions: Russia, China, and Algeria.
* Algeria: Concerned about misuse of previous Resolution 2722 (2024) to justify attacks on sovereign states.
* Russia: Warned that vague language in the resolution could enable unilateral military actions; called for a political solution rooted in international law.
* China: Opposed military responses, citing harm to Yemen’s sovereignty and the peace process. All three nations linked the Red Sea tensions to the ongoing Gaza conflict.
* United States:
* Condemned the Houthis’ "terrorist tactics".
* Warned that such actions threaten maritime security, double operating costs, and disrupt global commerce.
* Demanded the unconditional release of the recently detained crew.
* Accused Iran of violating Resolution 2216 (2015) by enabling Houthi aggression.
* Greece:
* Emphasized the Red Sea’s strategic maritime importance.
* Called attacks “unprovoked” and stressed the need to continue monitoring and accountability.
On a separate action, on 10 July 202 a Circular/ Advisory has been issued by the Philippine Department of Migrant Workers, affirming the right of seafarers to refuse sailing through high-risk or warlike areas. In particular the Advisory provides that in such cases, seafarers invoking this right must be repatriated. It also states that “all licensed manning agencies and their accredited foreign principals/shipowners must reroute or divert their vessels manned by Filipino crew to avoid ITF/IBF designated warlike and high risk zones, particularly the Red Sea and the Gulf of Aden”.
An IMO Circular is also attached following a letter sent to the IMO by the Government of the Philippines, presenting a draft resolution to the UN Human Rights Council. It delivers a message urging all shipping industry stakeholders to uphold and protect the human rights and fundamental freedoms of all seafarers in line with international human rights instruments.
Additionally, the Liberia Maritime Authority issued a notice on the security situation in the Red Sea, Gulf of Aden and Arabian Sea. In response to wider threats, Operation Prosperity Guardian (OPG) has been launched in the Southern Red Sea (SRS). Liberian-flagged vessels must operate at Security Level 3 while transiting these areas and comply with port security levels set by the Designated Authority, with the option to apply higher measures if needed. Outside territorial seas within the High-Risk Area, vessels must maintain Security Level 2.
U.S. Naval Forces Central Command Bahrain (NAVCENT) warns of ongoing high threats to commercial ships in the Red Sea. Companies decide on transit or port calls, but vessels linked to Israel are advised to contact NCAGS for guidance. Per IMO Resolution A.1106(29), AIS may be switched off only when necessary, limited to mandatory data fields, with position reports sent to COMUSNAVCENT every 2–3 hours.
All vessels are advised to report to UKMTO, register with the Maritime Security Centre – Indian Ocean (MSCIO), follow Best Management Practices (BMP), and comply with guidance from coalition forces. The shipping industry will continue monitoring threats to support safe transit, with all vessels encouraged to report to the Information Fusion Centre – Indian Ocean Region (IFC-IOR).
Related Articles:
Attachment 2: ECSA C-14360 - ES|ECSA MSWG - For information - Documents on seafarers from the Philippines
Attachment 3: DMW Advisory No. 21 (10 July 2025)
Attachment 4: IMO Circular Letter No. 4886
Safety4Sea 17/07 - U.N. extends monitoring of Houthi attacks in the Red Sea <https://safety4sea.com/u-n-
ABC 16/07 - UN council authorizes continuing vigilance of attacks by Yemen's Houthi rebels on Red Sea shipping<https://abcnews.go.
Associated Press of Pakistan 16/07 - UNSC extends reporting requirement on Houthi attacks against commercial vessels in Red Sea<https://www.app.com.pk/
Safety4Sea 16/07 - Liberia issues notice on situation in the Red Sea, Gulf of Aden & Arabian Sea <https://safety4sea.com/
4. Malaysia to enforce regulation against illegal STS oil transfers
On 11 July 2025, Malaysia has announced that it will begin strict enforcement against illegal crude oil transfers between ships in its waters expected to come into force by the end of July.
According to local media reports, Malaysian Foreign Minister, Mohamad Hasan, stated that vessels found engaging in the activity will face firm action, including seizure and fines. The move as stated, reflects Malaysia’s commitment as a coastal nation to safeguard its maritime sovereignty and navigation safety.
Related Article:
MFame 16/-7 - Malaysia Cracks down on Illegal Oil Transfers with stricter maritime enforcement<https://mfame.
Safet4Sea 15/07 - Malaysia to enforce regulation against illegal STS oil transfers<https://safety4sea.
MalayMail 12/07 - Malaysia to enforce new rule against rogue ship-to-ship oil transfers by end of July, says foreign minister<https://www.
5. US TREASURY REPORT
The US Treasury Report for all actions reported is hereby attached.
Related Article:
Attachment 5: US Treasury Report for week 12/07/2025 – 18/07/2025
6. PIRACY REPORT
The Piracy Report for all actions reported is hereby attached.
Related Article:
Attachment 6: Worldwide Threat to Shipping (WTS) Report, for the period between 18/06/2025 – 16/07/2025
Nothing important to report from Local News, the ILO and the House of Representatives.