Shipping
U.S. Gives Green Light to Scrap Iran-Linked Ships, Buyer Says
GMS, a major ship recycler, received the first US permit to purchase four container ships sanctioned over Iran: the Yogi, Timon, Rantanplan and Bigli. The licenses, issued in April, were named in a Treasury Department notice targeting the fleet of Hossein Shamkhani. The move could establish a legal pathway for removing aging vessels from the shadow fleet, which has expanded dramatically since Russia's 2022 invasion of Ukraine.
