3rd October 2026 – 9th October 2026
Contents
- LOCAL NEWS
- 1. “Thalassa 2026” Festival
- 2. Italy and Cyprus: turning maritime cooperation into concrete projects
- INTERNATIONAL NEWS
- 1. Trump strikes deal with Putin to supply Russian diesel to U.S. and global markets
- 2. G7 Leaders' Statement on global energy security and market stability
- 3. The Council updates the EU list of non-cooperative tax jurisdictions as cooperation delivers further progress
- 4. EU Approves Record Sanctions Expansion Targeting 1600 Russian Citizens and Entities - EU Extends Russia Hybrid Sanctions
- 5. BIMCO: New addendum helps unlock investment in energy-saving retrofits
- 6. Aramco considers long-term oil loadings outside of the Strait of Hormuz
- 7. Attack risks rise for tankers as Iran vows to block more Hormuz routes
- 8. Turkey says Russia, Ukraine increasing attacks in Black Sea ahead of winter
- 9. US TREASURY REPORT
- 10. PIRACY REPORT
LOCAL NEWS
1. “Thalassa 2026” Festival
On Saturday, 10 October 2026, the Shipping Deputy Ministry of Cyprus co-organised the “Thalassa 2026” Festival with the Limassol Municipality for the fifth consecutive year. Our Union played a key role as a major participant and supporter of this event, which celebrated the maritime sector and highlighted how marine culture remains a vital part of the island’s identity, history and economy.
The festival brought together 40 organisations and other entities, offering an engaging maritime experience that highlighted the significance of shipping, the value of the blue economy, the importance of marine environmental protection, and the benefits of pursuing a career in the maritime sector.
The event was officially inaugurated by the President of the Republic of Cyprus, Mr Nikos Christodoulides. In his address, President Christodoulides highlighted the 27% growth of the Cyprus shipping registry over the past three years and reaffirmed the government’s commitment to further strengthening Cyprus shipping. He also emphasised the importance of maritime education and promoting career opportunities for younger generations.
Welcoming remarks were also delivered by the Shipping Deputy Minister to the President, Ms Marina Hadjimanolis, and the Mayor of Limassol, Mr Yiannis Armeftis.
A key feature of the event was the Cyprus Union of Shipowners’ exhibition stand, which attracted considerable interest from visitors. A video presentation showcased the Cyprus flag and ship registry, while highlighting CUS’s role in promoting and supporting Cyprus shipping.
Particular emphasis was placed on CyprusFlag.org, an initiative of CUS aimed at complementing the work and efforts of the Shipping Deputy Ministry and contributing to the further promotion and strengthening of the Cyprus flag as a competitive and reliable international ship registry. Through this initiative, the Union seeks to enhance the international visibility and standing of the Cyprus flag.
Furthermore, visitors to the festival were informed about Safe Bulkers’ 7th Annual Scholarship Programme, which supports the development of a specialised workforce within Cyprus’s maritime cluster. Interested visitors had the opportunity to learn more about the available scholarships and obtain information about shipping-related university studies for the 2027–2028 academic year. The programme aims to encourage more high school graduates to pursue university studies in shipping-related fields, reflecting Safe Bulkers’ continued commitment to corporate social responsibility.
Related Articles:
Cyprus Mail 12/10 - Shipping offers young people well-paid jobs at sea and ashore, says Hadjimanolis
CBN 12/10 - Cyprus shipping registry increased by 27% over past three years, President notes
Attachment: Photo No. 1
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Attachment: Photo No. 3
Attachment: Photo No. 4
2. Italy and Cyprus: turning maritime cooperation into concrete projects
Today in Limassol, the Italy–Cyprus Maritime Business Forum brought together government, ports, shipowners, ship managers, classification societies and finance. It was hosted by the Italian Embassy in Nicosia at the DP World Cruise Terminal, under the auspices of the Shipping Deputy Ministry. For centuries the sea has connected Italy and Cyprus. Now it can drive a deeper economic partnership.
The aim of the forum was to turn that potential into practical cooperation among the two countries, between companies, ports and port cities to future trade routes such as the India–Middle East–Europe Economic Corridor (IMEC).
Safe Bulkers’ President, Dr. Loukas Barmparis, representing the Cyprus Union of Shipowners, joined the shipping management and compliance panel alongside MSC Shipmanagement Cyprus, Confitarma, the Cyprus Shipping Chamber, DP World and RINA. Dr. Loukas Barmparis, presented the priorities of CUS, including strengthening of Cyprus registry and decarbonization and the cooperation needed between Cyprus and Italy within EU and IMO.
Among the topics of the Panel discussion one deserves particular attention. Cyprus-flagged vessels are reportedly not being accepted for demolition and recycling by Turkish yards, even though these yards operate with EU support and funding. To the extent European Union funds recycling capacity that meets the Ship Recycling Regulation, that capacity should be open to every EU-flagged vessel on equal terms. With the European institutions in the room, Italy and Cyprus were well placed to bring this issue to the forefront.
Thank you to the Embassy of Italy, ITA/ICE, Cyprus Chamber of Commerce and Industry (CCCI), the Cyprus Union of Shipowners, Invest Cyprus – CIPA and DP World for turning dialogue into a working agenda.
Relevant Photos of the Forum are attached.
Related Articles:
Cyprus Mail 9/10 - Cyprus and Italy explore new shipping and port investment opportunities
Stockwatch 8/10 - Italy-Cyprus maritime forum to strengthen shipping cooperation
Attachment: Photo No. 5
Attachment: Photo No. 6
INTERNATIONAL NEWS
1. Trump strikes deal with Putin to supply Russian diesel to U.S. and global markets
On Friday, 9th October 2026, US President Donald Trump announced that Russia will supply more than 4 million tons of diesel to the global market under a deal he struck with President Vladimir Putin during a phone call.
While not all the details of the deal became known, it is repored that Russia will immediately supply more than 300,000 tons of diesel, followed by 500,000 tons in November, and 1 million tons immediately thereafter, Trump said in a post on Truth Social. Moscow will then deliver another 3 million tons of diesel based on the condition of Russia’s refineries, Trump said.
“Between our TOTAL CONTROL of the Strait of Hormuz, and this great announcement on Russian Energy, Diesel Prices for Americans and, indeed, the World, will be COMING DOWN, IN RECORD NUMBERS, AND FAST!,” Trump said.
The Treasury Department temporarily waived sanctions on Russian diesel through April 2027 under a general license issued Friday, 12th October 2026.
For more information on the above-mentioned General License, please see US Treasury Article.
Ashley Kelty, an energy analyst with the investment bank Panmure Liberum, said: “It is not going to have any impact on prices. The first amount [due to be shipped to the US] is so small.
“They are going to have to charter vessels, load them and transport the cargo to the US. That will take about three weeks – so we are pretty much at the end of the month and about a week before the midterms.”
Related Articles:
Trump strikes deal with Putin to supply Russian diesel to U.S. and global markets
Attachment 1: Trump secures diesel shipments in ‘highly successful’ discussion with Putin
2. G7 Leaders' Statement on global energy security and market stability
On 2 October, G7 leaders held a virtual meeting to address rising oil prices, volatility in global energy markets and growing concerns over energy security. The French President had announced a few days ago that France, as the G7 presidency, would convene the G7 heads of state and government to take coordinated action on the energy issue, in order to ease the pressure on prices at the pump.
The outcome of this meeting was as follows:
- To continue, in a coordinated manner, the efforts to restore full freedom of navigation in the Strait of Hormuz. The volume of oil transported through the Strait of Hormuz and the Yanbu Canal in the Red Sea has been increasing in recent days.
- To optimize the energy production to operate refineries at maximum capacity. This was the purpose of the letter that the French President sent to the President of the European Commission: initial measures have been decided at the European level and others will follow.
- To release strategic reserves of refined products, particularly diesel and crude oil, up to 100 million barrels over the next four months, under the coordination of the International Energy Agency.
- To impose no bans or restrictions on energy exports among G7 members, as protectionist measures would be harmful to all.
Overall, the G7 measures aim to stabilise energy supplies, mitigate price pressures, protect international trade and strengthen the resilience of global energy markets.
Related Articles:
European Commission 02/10 - G7 Leaders' Statement on global energy security and market stability
Republique Francaise 03/10 - Videoconference with G7 leaders on the global energy situation
3. The Council updates the EU list of non-cooperative tax jurisdictions as cooperation delivers further progress
On 9 October 2026, the European Council decided to remove Panama and Viet Nam from Annex I, the list of non-cooperative jurisdictions, following significant steps taken to address outstanding issues. Both jurisdictions were moved to Annex II (the list of cooperative jurisdictions) pending an in-depth review by the Global Forum of their exchange of information frameworks. This development confirms the positive effects of constructive engagement with jurisdictions on tax good governance matters.
The Council also recognised the progress achieved by Vanuatu on tax transparency, although the jurisdiction remains in Annex I due to outstanding concerns in another area.
In turn, further concerns were identified for Anguilla, as the jurisdiction did not address the issues related to its exchange of information framework. The Council regrets this development and has invited the jurisdiction to engage with the EU’s Code of Conduct Group and the Global Forum to resolve the issues.
Following these changes, Annex I comprises 8 jurisdictions: American Samoa, Anguilla, Guam, Palau, the Russian Federation, Turks and Caicos, US Virgin Islands, and Vanuatu.
As a result, Annex II currently includes 10 jurisdictions: British Virgin Islands, Brunei Darussalam, Eswatini, Greenland, Jordan, Montenegro, Morocco, Panama, Türkiye and Viet Nam. The EU will closely monitor relevant developments in each jurisdiction.
Related Articles:
4. EU Approves Record Sanctions Expansion Targeting 1600 Russian Citizens and Entities - EU Extends Russia Hybrid Sanctions
On Wednesday, 9th October 2026, the European Union has agreed the single largest expansion of its sanctions list against Russia, adding 1,646 names in one go.
The deal, sealed by ambassadors in Brussels, covers 743 individuals and 826 entities accused of supporting Moscow's invasion of Ukraine.
The designations include a range of entities involved in missile testing and research as well as the production of solid fuels and rocket engines for Russia's Iskander system. The EU is also targeting producers of specialised textiles and synthetic and carbon fibres used across a range of different missile systems, one of the sources specified.
In addition, the list has drone manufacturers, shipyards that service submarines and 77 Russian politicians who ran for parliamentary seats in Russian-occupied Ukrainian territories.
The 22nd Package of Sanctions will be formally approved on Monday when foreign ministers gather in Luxembourg. The targeted people and entities will then be made public.
Sanctions entail a travel ban, an asset freeze and a prohibition on providing funding.
On a separate note, on the 9th October 2026, EU foreign ministers have extended sanctions against people and organisations accused of supporting Russia’s “hybrid” destabilisation activities abroad until 9 October 2027.
The measures apply to 80 individuals and 20 entities, with those listed facing an asset freeze across the EU and a ban on EU citizens and companies making funds or other economic resources available to them
Related Articles:
EU agrees to sanction over 1,600 people and entities linked to Russia's war | Euronews
Attachment 2: Reuters 07/10 - EU envoys approve new Russia sanctions listings, diplomats say
EU extends sanctions for Russia-linked hybrid threats to 2027
EU extends sanctions over Russia’s 'hybrid activities' until October 2027
5. BIMCO: New addendum helps unlock investment in energy-saving retrofits
On 8 October 2026, BIMCO released the BIMCO Energy Saving Device Retrofit Addendum 2026, providing shipowners and charterers with a practical contractual framework for agreeing on the allocation of costs and benefits arising from the installation of energy-saving technology during a time charter.
As the shipping industry seeks to reduce emissions, improve fuel efficiency and comply with evolving environmental regulations, retrofitting existing vessels is becoming increasingly important. However, uncertainty over the allocation of installation costs and resulting fuel savings can create commercial challenges. Where the shipowner finances the installation, the charterer may receive some or all of the operational benefits during the charter period, potentially reducing the owner's incentive to invest.
The new addendum seeks to address this issue by allowing the parties to agree on how the costs, time implications and benefits of a specific retrofit project will be shared. It does not prescribe a single commercial arrangement, thereby providing flexibility to accommodate the needs of individual projects and charter agreements. It is also technology-neutral, allowing its application to a wide range of existing and future energy-saving technologies.
Furthermore, the addendum provides a framework that can accommodate existing and future environmental regulatory schemes. By establishing a clearer contractual basis for cooperation between shipowners and charterers, it aims to facilitate investment in energy-saving technology and support the maritime industry's broader decarbonisation objectives.
Related Articles:
BIMCO 08/10 - New addendum helps unlock investment in energy-saving retrofits
6. Aramco considers long-term oil loadings outside of the Strait of Hormuz
Saudi Arabia’s state oil company, Saudi Aramco, is reportedly considering long-term crude oil loading arrangements outside the Strait of Hormuz for 2027, as geopolitical tensions continue to challenge conventional shipping routes in the Middle East.
The proposed arrangements may involve alternative loading and ship-to-ship (STS) transfer operations to maintain crude oil exports and ensure continuity of supply to international markets.
For the maritime industry, these developments highlight the growing importance of operational flexibility, effective risk management and robust safety procedures, particularly for tanker operators involved in STS operations. Any changes to established shipping arrangements could also affect vessel deployment, freight costs and contractual delivery terms.
As discussions continue, the outcome could provide further insight into how major oil producers are adapting their logistics strategies to evolving maritime security risks and strengthening supply chain resilience.
Related Articles:
Safety4Sea 09/10 - Aramco considers long-term oil loadings outside of the Strait of Hormuz
7. Attack risks rise for tankers as Iran vows to block more Hormuz routes
The Strait of Hormuz remains a major concern for international shipping amid the ongoing conflict between the United States and Iran. Attacks and threats against commercial vessels have increased maritime security risks, disrupted vessel movements and raised concerns about seafarer safety and global energy supplies.
The UK Maritime Trade Operations (UKMTO) has reported attacks on commercial vessels, including a tanker struck by multiple projectiles north of Qatar on 7 October. Shipowners are advised to monitor official maritime security advisories, conduct voyage-specific risk assessments, review insurance and emergency arrangements, and take appropriate measures to protect vessels and crews.
On this note, the United States and Iran maintain differing positions on ending the conflict, reopening the Strait of Hormuz and resolving disputes over Iran’s nuclear programme.
- United States’ position: On 8 October, President Donald Trump stated that the United States would not attack Iran before the midterm elections on 3 November 2026, citing ongoing and productive discussions, however, negotiations remain unresolved, including those concerning the cessation of hostilities and the reopening of the Strait of Hormuz. Regardless, the United States continues to exert pressure on Iran.
- Iran’s position: Iran has warned against the use of unauthorised routes for oil exports and reportedly threatened action against vessels using such routes. Tehran has also stated that it will not abandon uranium enrichment or surrender its uranium stockpile. Discussions concerning the reopening of the Strait remain ongoing, with no final agreement confirmed.
Despite ongoing negotiations, the Strait of Hormuz remains a high-risk area for commercial shipping. Shipowners should continue to prioritise seafarer safety, monitor developments closely and assess the risks before authorising vessel transits.
Related Articles:
Attachment 3: Reuters 08/10 - Attack risks rise for tankers a#s Iran vows to block more Hormuz routes
Attachment 4: Reuters 08/10 - Trump says US will not attack Iran before midterm elections in November
8. Turkey says Russia, Ukraine increasing attacks in Black Sea ahead of winter
The Black Sea continues to face heightened maritime security risks amid intensifying attacks between Russia and Ukraine. Turkish Foreign Minister Hakan Fidan warned on 8 October, that the attacks are increasingly endangering navigational safety and called on the international community to prevent the region from becoming a wider front in the conflict.
Turkey has proposed measures to Russia and Ukraine aimed at preventing attacks on commercial vessels and ensuring the safe transportation of grain, but Ankara is still awaiting responses. The urgency of these efforts is underscored by the recent sinking of the cargo vessel Alfa Watan after it was struck by a drone in Bulgaria’s exclusive economic zone, approximately 70 nautical miles off the Bulgarian coast. The fate of its 10 crew members, including nine Syrian nationals, remains unknown. Although Bulgaria has suspended its search and rescue operation, Syria has called for an independent investigation into the incident. Responsibility for the attack has not been established, and Russia has denied targeting the vessel.
These developments highlight the growing threats to commercial shipping, seafarer safety and regional trade. Shipowners and operators should closely monitor maritime security advisories, conduct appropriate voyage risk assessments and take precautionary measures when operating in the Black Sea.
Related Articles:
Attachment 5: Reuters 08/10 - Syria calls for independent probe into sinking of ship in Black Sea
Attachment 6: Reuters 08/10 - Turkey says Russia, Ukraine increasing attacks in Black Sea ahead of winter
9. US TREASURY REPORT
The US Treasury Report for all actions reported is hereby attached.
Related Article:
Attachment 7: US Treasury Report for week 03/10/2026 – 09/10/2025
10. PIRACY REPORT
The Piracy Report for all actions reported is hereby attached.
Related Article:
Attachment 8: Worldwide Threat to Shipping (WTS) Report, for the period between 09/09/2026 – 07/10/2026
Nothing important to report from ECSA, ILO and the House of Representatives.
