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USA Lease Sale Cancellation Leaves Industry in Limbo

USA Lease Sale Cancellation Leaves Industry in Limbo

According to the latest Maritime Security Threat Advisory (MSTA) from Dryad Global, industry-wide insured marine losses from the Russia-Ukraine war might range from $3-6 billion owing to the loss or destruction of a number of ships.

Two Russian naval anchor mines washed ashore on the Odesa coast lately, but they have already been deactivated, according to Dryad Global’s latest MSTA, which was updated on May 16. According to the MSTA, Ukraine President Zelensky has requested international assistance in easing the Russian blockade on Odesa, claiming that the city has been repeatedly bombarded by Russian sea-launched cruise missiles.

The recent MSTA from Dryad Global, which was updated on May 9, focused on concerning developments in the Black Sea. According to the MSTA, a Russian Black Sea Fleet Admiral Grigorich class frigate, the Admiral Makarov, caught fire near Snake Island on May 6 after being hit by Ukrainian Neptune anti-ship missiles. According to the MSTA, a Russian Landing Ship delivering a TOR anti-aircraft missile system to Snake Island was struck by Ukrainian TB2 drones a day later.

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Zelensky claimed he had fruitful meetings with Federal Chancellor Olaf Scholz of the Federal Republic of Germany in a statement posted on his Twitter page on Tuesday.

“Discussed the frontline situation, increased pressure on Russia, increased sanctions, and peace possibilities.” Thank you for your support, both offensive and defensive. In the statement, Zelensky added, “We expect continued [German] support on [Ukraine’s] route to full EU membership.”

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@Bundeskanzler and I had a productive discussion. The frontline situation, more pressure on Russia, increased sanctions, and the prospects for peace were all discussed. Support, including defensive support, is greatly appreciated. — олодимир еленcки (@ZelenskyyUa) May 17, 2022

Nigeria and Libya are two countries that have recently made headlines.

In other news, the Chief of the Nigerian Naval Staff revealed plans to expand anti-piracy operations to neighboring country waterways on May 9, according to Dryad Global’s most recent MSTA.

“In order to evade the enhanced regional and international naval patrols in the Nigerian TTW, incidents of piracy by Nigerian pirates have extended up to 200 nautical miles off the coast of Nigeria,” according to the MSTA.

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The MSTA noted, “In order to mitigate this threat, the Nigerian Navy would deploy assets in constant patrols in nearby waterways.”

Libya’s Ministry of Oil and Gas declared the restoration of operations at oil fields and ports on May 11, according to the MSTA.

“Oil terminals will open after the government establishes a framework for a fair distribution of the country’s oil profits among the region,” according to the MSTA.

“On the 14th of May, deadly fighting between armed factions occurred in Sabratah, a coastal city. Explosions have occurred in the city’s Dahman sector as a result of the confrontation, according to the MSTA.


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