27th June 2026 – 03rd July 2026
LOCAL NEWS
1. Cyprus Marks the Successful Completion of its Presidency of the Council of the European Union
On 30 June 2026, the Republic of Cyprus concluded its six-month Presidency of the Council of the European Union, having held the rotating Presidency since 1 January 2026 before handing over to Ireland on 1 July 2026. The Cyprus Union of Shipowners (CUS) congratulates the Republic on the successful completion of its Presidency, describing a term marked by decisive leadership, constructive diplomacy and a clear strategic vision that strengthened Europe's maritime agenda and reinforced the Union's collective priorities.
At the Ministerial Conference, held on 28 April 2026 at the Four Seasons Hotel in Limassol under the Cyprus Presidency, CUS President, Mr. Polys V. Hajioannou, called for greater cooperation between governments, the shipping industry and international organisations to advance the welfare of seafarers, stressing that their wellbeing, recognition and visibility must be supported by tangible action rather than rhetoric. European Maritime Day 2026, hosted in Limassol on 21–22 May 2026 by the European Commission, the Shipping Deputy Ministry of the Republic of Cyprus and the Limassol Municipality, further highlighted the strong maritime dimension of the Cypriot Presidency.
The CUS congratulates the President of the Republic of Cyprus, Mr. Nikos Christodoulides, the Minister of Foreign Affairs, Dr. Constantinos Kombos, and the Deputy Minister for European Affairs, Ms. Marilena Raouna, whose leadership and contribution were instrumental to the Presidency's achievements.
Holding the Presidency for the second time since its first term in 2012, Cyprus organised three summits, 19 informal ministerial meetings and 52 formal ministerial meetings during the six-month period, welcoming more than 30,000 visitors to the island.
Related Articles:
Cyprus Mail 30/6 - Cyprus ends EU presidency with praise, emotion and eye on the future
Cyprus Mail 30/6 - Our View: EU presidency did not reshape Europe, but was smoothly run
INTERNATIONAL NEWS
2. Paris MoU 2025 Performance Lists: Cyprus Retains Its Place on the White List
Cyprus has once again secured its place on the Paris Memorandum of Understanding (Paris MoU) White List, reaffirming its position among the world's leading quality flag administrations and demonstrating its continued commitment to high standards of maritime safety, security, environmental protection and regulatory compliance.
The Paris MoU White List is an internationally recognised benchmark of flag State performance, identifying administrations with consistently strong Port State Control (PSC) records. For shipowners and operators, inclusion on the White List offers significant operational benefits, including fewer inspections, reduced port delays and enhanced confidence in the quality of the flag.
According to the Paris MoU 2025 Performance Lists, Cyprus ranks 22nd among the 40 flag States included on the White List. During the 2023–2025 reporting period, Cyprus-flagged vessels underwent 2,155 PSC inspections, with only 65 detentions, reflecting a consistently high level of compliance with international maritime standards. While Cyprus moved from 19th place in the previous year's rankings, it remains comfortably within the White List.
In 2025 alone, Cyprus-flagged ships recorded a detention rate of 3.2% (22 detentions from 679 inspections), remaining below the Paris MoU regional average of 4.18% and further demonstrating the strong performance of the Cyprus flag.
The latest White, Grey and Black List, approved by the Paris MoU Committee, classifies 40 flag States on the White List, 19 on the Grey List and 10 on the Black List.
Cyprus's continued inclusion on the White List reinforces its reputation as a high-quality and reliable flag of choice, reflecting the collective efforts of the Shipping Deputy Ministry, the Cyprus maritime administration and the wider shipping community in maintaining the highest international standards.
Related Articles:
Attachment 1: Paris MoU 2025 Annual Report
Naftika Chronika 1/7 - Paris MoU: Σταθερά σε πορεία αριστείας το ελληνικό νηολόγιο
Maritime Briefs 30/6 - Paris MoU Reports Rise in Detentions and Compliance Issues for 2025
3. EU's 21st sanctions package against Russia stays blocked as the 15 July oil price-cap deadline nears and the Council Presidency passes from Cyprus to Ireland
On 1 July 2026, the Republic of Ireland assumed the six-month rotating Presidency of the Council of the European Union from Cyprus, inheriting an unresolved negotiation over the bloc's 21st package of sanctions against the Russian Federation. Further to our Union's report last week — which noted the Council's formal decision of 25 June 2026 to extend the EU's economic sanctions against Russia for a further twelve months, until 31 July 2027, the first time the rollover has been set at a full year rather than the customary six months — the wider 21st package, unveiled by European Commission President Ms. Ursula von der Leyen on 9 June 2026, remains unadopted. As with every sanction package, it requires the unanimous agreement of all 27 member states.
For shipowners, the centerpiece of the package is the treatment of the price cap on seaborne Russian crude oil, which is set at approximately 15 per cent below the average market price for Russian crude and is reviewed every six months. Because Urals crude surged following the closure of the Strait of Hormuz — with Brent futures trading above USD 90 per barrel — the formula would, if left to operate, push the ceiling upward from the current USD 44.10 per barrel to an estimated USD 75 per barrel, granting Moscow additional oil revenue. To prevent this, the Commission has proposed freezing (pausing) the adjustment mechanism and holding the cap at USD 44.10 until January 2027. According to diplomats, ambassadors are weighing either delaying the review or fixing a new cap in its place.
An agreement, however, remains blocked, with the Bulgarian Prime Minister Mr. Radev reiterating on the 3rd July 2026 his country’s intention to veto the package, objecting to energy-related measures he says would harm the Bulgarian economy — in particular the exposure of Lukoil, which operates Bulgaria's only refinery at Burgas.
In addition to Greece, Malta, and Cyprus, which maintain large commercial maritime sectors that service transport vessels and have voiced opposition to some of the proposed measures, diplomats also noted disagreements regarding a proposed ban on former Russian combatants entering the European Union, with France and Italy expressing formal reservations. Furthermore, Italy has joined Bulgaria in raising concerns over European Union proposals to blacklist Russian Orthodox Patriarch Kirill as part of the upcoming 21st sanctions package.
All the above recent developments are expected to place new obstacles and further delay the adoption of the 21st package.
As previously reported, EU ambassadors met on 26 June 2026 to consider a revised text but reached no consensus, therefore talks have carried into the Irish Presidency. Despite the above - mentioned obstacles, Ireland's Permanent Representative, Ambassador Ms. Aingeal O'Donoghue, expressed confidence that the 15 July deadline could still be met. The twelve-month extension adopted on 25 June nonetheless locks the existing measures — including the ban on the import and maritime transport of Russian seaborne crude — in place regardless of the 21st package's fate.
The package carries substantial maritime content of direct relevance to Cyprus-flag and Cyprus-managed tonnage, since it proposes, among other measures, listing 30 additional 'shadow fleet' tankers on top of the 632 vessels already sanctioned and, for the first time, extending the listing criteria to vessels that provide bunkering, ship-to-ship transfer or other support services to sanctioned ships; a prohibition on the resale of LNG tankers to Russia; and transaction bans on 31 Russian banks and some 20 financial institutions in third countries, alongside asset freezes on close to 90 banks; For EU maritime-services providers, the price-cap level remains decisive: Western — including Cypriot — shipping, insurance and related services may lawfully serve Russian crude cargoes only where the oil is sold at or below the cap. With a substantial share of seaborne Russian oil still moving under the cap using such Western services and the majority now carried by the shadow fleet, a frozen ceiling held far below prevailing market prices widens the compliance gap and heightens exposure for operators and insurers.
Operators and managers are advised to:
- Monitor the Council's decision ahead of the 15 July 2026 price-cap revision and prepare for either a frozen USD 44.10 cap or a newly fixed cap level.
- Screen counterparties and vessels against the expanded shadow-fleet designations and the new bunkering / ship-to-ship support-service listing criteria before fixing.
- Retain price attestations and itemised cost documentation for any Russian-origin crude or petroleum-product transaction relying on the price-cap exemption.
- Note that the seaborne crude import ban and maritime-services restrictions remain in force irrespective of the 21st package, following the extension of economic sanctions to 31 July 2027.
Related Articles:
Ukrinform 3/7 - EU extends sanctions against Russia for another year
Euronews 26/6 - Oil, cod, Kirill: friction points emerge in new EU sanctions against Russia
Ukrainska Pravda 25/6 - EU extends economic sanctions against Russia for another year
Bulgarian premier vows to defend national interest over EU's new Russia sanctions
Italy and Bulgaria Push Back Against EU Plan to Sanction Patriarch Kirill — UNITED24 Media
4. BIMCO invites the industry to help shape a common standard for maritime emissions data reporting
On 30 June 2026, BIMCO opened a consultation inviting stakeholders from across the shipping industry to provide feedback on the use of Operational Vessel Data (OVD) as a common standard for exchanging log-abstract and noon-report data for greenhouse gas (GHG) emissions reporting. OVD is already in active use across parts of the industry and is intended to support consistent, structured and interoperable data exchange for both regulatory and commercial reporting needs.
The consultation is run by the Tripartite Joint Industry Working Group and seeks practical input from shipowners, managers, operators, charterers, verifiers, software providers and other stakeholders on how the standard can be clarified, improved and governed over time. Tripartite is described by BIMCO as an industry forum bringing together representatives from shipowners and operators, shipbuilders and classification societies to address shared technical, safety, environmental and regulatory challenges through coordinated, non-binding industry dialogue.
BIMCO encourages interested parties to review the background material and submit their feedback via the questionnaire and to register their interest in an upcoming industry workshop; stakeholders are welcome both to submit feedback and to attend the workshop. BIMCO Chief Naval Architect Mr. Jeppe Skovbakke Juhl is the named contact for the initiative. The organisation states that the input received will help ensure OVD remains practical, scalable and fit for long-term industry use.
Related Articles:
BIMCO 30/6 - Help shape a common standard for maritime emissions data reporting
5. Basel OEWG outcome brings ship recycling clarity closer, but more work is needed, says BIMCO
On 30 June 2026, BIMCO published its assessment of the latest meeting of the Basel Convention Open-ended Working Group (OEWG) — the fifteenth such meeting (OEWG-15), held on 23-26 June 2026 in Geneva — at which discussions focused on the complex legal and environmental framework for ship recycling and its relationship with the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships (HKC). BIMCO welcomed the continued engagement by governments and stakeholders and described the meeting as an important step towards clarifying how the two international regimes should work together.
Crucially, parties did not support applying both the Basel Convention and the HKC simultaneously to end-of-life ships, an outcome BIMCO called significant and positive. Avoiding a double regulatory burden is important, the organisation said, because overlapping regimes risk creating legal uncertainty, operational inefficiencies and disincentives to compliance. However, although there was broad agreement that greater clarity and legal certainty are needed, no final conclusions were reached on how overlapping obligations should be implemented in practice.
BIMCO noted that the entry into force of the HKC is a milestone that establishes a comprehensive global regime designed specifically for ships, whereas the continued application of the Basel Convention, originally designed for general packaged hazardous waste, creates legal complexity when applied to ships operating internationally. Delegations acknowledged several outstanding practical challenges, including diverging interpretations of when a ship becomes waste, uncertainty about transboundary movement procedures for ships, and potential duplication or conflict between Basel Convention and HKC requirements.
The organisation called on parties to continue working towards practical solutions that recognise the HKC as the primary global framework for ship recycling, avoid duplication and overlapping obligations, provide clear guidance on the interface between the two conventions, and support ongoing investment in compliant recycling facilities. BIMCO added that the IMO experience-building phase under the HKC will be an important opportunity to test the new framework in practice and to strengthen it based on real-world experience. The BIMCO contact for the item is Ms. Gudrun Janssens, Head of EU Engagement.
Related Articles:
BIMCO 30/6 - Basel OEWG outcome brings ship recycling clarity closer, but more work is needed
Safety4Sea 1/7 - OEWG advances ship recycling regulatory clarity, but key questions remain
6. Strait of Hormuz: Doha talks close without breakthrough as Iran and the United States clash over transit rights
On 1 July 2026, negotiators for Iran and the United States concluded a two-day round of indirect technical talks in Doha with no apparent breakthrough toward a lasting settlement, the discussions focusing on maritime traffic through the Strait of Hormuz and the unfreezing of Iran's funds. The Iranian delegation was led by Deputy Foreign Minister Kazem Gharibabadi, while US envoys Jared Kushner and Steve Witkoff — dispatched for what the White House had billed as "high-level" talks — met Qatar’s ruling emir Sheikh Tamim bin Hamad Al Thani and its foreign minister but did not attend the negotiating sessions themselves; Qatari and Pakistani mediators shuttled separately between the two sides, and Iran's delegation held no direct talks with the American side. The exchanges proceed under an interim Memorandum of Understanding (MoU) agreed on 17 June 2026, which reopened the Strait and provided for safe passage of commercial vessels free of charge for 60 days while a permanent framework is negotiated.
According to two senior Iranian sources cited by Reuters on 1 July 2026, Tehran is determined to secure international recognition of its control over the Strait and its asserted right to levy fees on vessels entering or leaving the Gulf, "even if it has to do so by force." Iran interprets the MoU as permitting it to keep control of which ships may pass and which route they take, to deny entry to any vessel it suspects of threatening Iranian security, and to charge fees for what it terms compulsory services. Although no fees are collected during the interim phase, Iran has indicated it would begin charging for passage from around mid-August 2026, when the toll-free period expires, and its negotiators reportedly will not move to other areas of the peace talks until this control is formally accepted.
Washington rejects that position. US President Donald Trump has stated there would be no tolls for passage through the Strait unless the United States itself imposed them, and Secretary of State MarcoRubio told Gulf states that no country has the right to block shipping or impose fees or tolls for passage through an international waterway. The United States maintains that the Strait of Hormuz is an international strait subject to the right of transit passage and must remain open to free navigation.
The dispute turns on a contested legal framework. Neither Iran nor the United States is a party to the1982 UN Convention on the Law of the Sea (UNCLOS), which designates Hormuz as an international strait requiring free passage; Oman, along whose coast the southern side of the Strait runs, is a party. The Convention is nonetheless widely regarded, including by the United States, as reflecting customary international law. As Chris O'Flaherty, a former British navy captain and specialist in naval warfare and law, observed, "most people think international law is settled" on the point, "however, Iran has decided to challenge that." The Strait is just over 20 miles wide at its narrowest point and carried roughly one-fifth of global oil and liquefied natural gas trade before the war.
The legal standoff sits atop a fragile ceasefire. Over the preceding weekend, Iran fired on four vessels that attempted to transit on the Omani side without prior Iranian permission, triggering a brief but intense exchange of fire with US forces. On 2 July 2026, Iran's Khatam al-Anbiya Central Headquarters issued a threat warning that any US interference in the Strait would meet a "swift and decisive" military response, and reiterated that all commercial vessels and oil tankers must use navigation routes designated by Iran, with any deviation facing "an immediate and authoritative response." Deputy Foreign Minister Gharibabadi stated that "Hormuz is defined under Iran's command, not Centcom."
Key operational concerns / Operators are advised to:
- Treat the toll-free window as time-limited, expiring around mid-August 2026, and factor the prospect of transit fees and prior-authorisation requirements into voyage planning and charterparty terms.
- Comply strictly with the navigation routes designated by Iranian authorities; departures from designated corridors have been met with warning fire and threats of an "immediate and authoritative response."
- Maintain war-risk cover and heightened bridge readiness given the fragile ceasefire and recent exchanges of fire around the Strait.
- Monitor UKMTO advisories and the conflicting Iranian, US, and Omani positions on fees and legal status, and seek clarification on authorisation requirements before transit.
Related Articles:
Attachment 2: Reuters 1/7 - Iran insists on keeping control over Hormuz, senior Iranian sources say
Attachment 3: Reuters 1/7 - US, Iran talks conclude in Doha, focused on Strait of Hormuz
The National 2/7 - US and Iran conclude round of talks in Doha, focusing on the Strait of Hormuz
7. UK Emissions Trading Scheme extends to domestic shipping from 1 July 2026
On 1 July 2026, the United Kingdom Emissions Trading Scheme (UK ETS) formally extended to the domestic maritime sector, bringing shipping within the United Kingdom's carbon-pricing regime for the first time. From that date, the scheme applies to cargo and passenger vessels of 5,000 gross tonnage and above operating on domestic voyages between UK ports, including voyages that begin and end at the same port, together with emissions produced while at berth or at anchor in UK ports.
The scheme covers carbon dioxide (CO2), methane (CH4), and nitrous oxide (N2O). Operators are required to surrender allowances covering 100% of emissions on domestic UK voyages and in UK ports, with a 50% surrender deduction applying only to voyages between ports of call in Great Britain and ports of call in Northern Ireland. The framework is operator-based rather than ship-based: each maritime operator must obtain approval of a company-level Emissions Monitoring Plan (EMP) from its regulator, submitted through the Manage your Emissions Trading Scheme (METS) platform no later than 42 days after undertaking its first maritime activity. The inclusion of offshore vessels of 5,000 gross tonnage and above has been deferred to 1 January 2027.
The first scheme year runs from 1 July to 31 December 2026, after which reporting reverts to a calendar-year basis. A verified emissions report for the initial period must be submitted by 31 March 2027, with the first surrender of allowances (covering the 2026 and 2027 years together in a one-off double deadline) due by 30 April 2028. Classification societies, including DNV and Lloyd's Register urged owners and managers to complete early onboarding and secure EMP approval without delay, noting that the Environment Agency was supporting free early onboarding into the METS platform ahead of the commencement date.
The measure adds a further layer to the regional patchwork of carbon-pricing obligations confronting operators calling at European ports, alongside the EU Emissions Trading System and FuelEU Maritime, at a time when the corresponding global instrument, the IMO Net-Zero Framework, remains adjourned pending the reconvened extraordinary session of the Marine Environment Protection Committee expected later in 2026.
Related Articles:
DNV - The UK ETS expands to maritime from 1 July 2026
Lloyd's Register 06/2026 - UK ETS extends to domestic maritime sector
Gov.UK - UK Emissions Trading Scheme for maritime: how to comply
8. Eurogas coalition warns EU certification change threatens bio-LNG and e-LNG supply to shipping
On 30 June 2026, Eurogas and 44 co-signatories issued a joint statement warning that a proposed revision to the European Union's sustainability certification rules could undermine 'liquefaction by equivalence', one of the principal pathways currently used to supply bio-LNG and e-LNG to ships through Europe's existing gas infrastructure.
Liquefaction by equivalence allows biomethane and e-methane injected into the European gas grid to be allocated, through a certified accounting system, to vessels bunkering at European ports without the physical movement of the gas to an LNG terminal. The coalition warned that the proposed revision of Commission Implementing Regulation (EU) 2022/996 would allocate fossil LNG supply-chain emissions to bio-LNG and e-LNG delivered through the mass-balance system, even though those emissions do not form part of the renewable fuel supply chain. This, it argued, would misrepresent the fuels' climate performance, render the pathway commercially unviable, reduce renewable fuel availability, raise FuelEU Maritime compliance costs for shipowners and weaken investment in biomethane and e-methane production across Europe.
The signatories, which include SEA-LNG, Shell Energy, CMA CGM, the Cruise Lines International Association (CLIA) and TotalEnergies, called on the European Commission to ensure that emissions allocated to bio-LNG and e-LNG reflect only the greenhouse-gas impact of the underlying biomethane and e-methane supply chains. Andreas Guth, Secretary General of Eurogas, said that restricting a proven pathway for supplying bio-LNG and e-LNG under the proposed certification changes risks reducing fuel availability and penalising shipping companies that rely on these fuels to meet FuelEU Maritime requirements. Terminal operators Fluxys and Enagas both reported strong growth in bio-LNG volumes during 2025.
Related Articles:
Ship & Bunker 1/7 - Industry Coalition Warns EU Proposal Could Undermine Renewable LNG Supply
Eurogas 30/6 - Renewable Shipping Fuel Supply at Risk as EU Proposal Threatens Key Delivery Pathway
9. US TREASURY REPORT
The US Treasury Report for all actions reported is hereby attached.
Related Article:
Attachment 4: US Treasury Report for week 27/06/2026 – 03/07/2026
10. PIRACY REPORT
The Piracy Report for all actions reported is hereby attached.
Related Article:
Attachment 5: Worldwide Threat to Shipping (WTS) Report, for the period between 03/06/2026 – 01/07/2026
Nothing important to report from ECSA, IMO, ILO, and the House of Representatives.