Keyword: shipping
-
The U.S. military is preparing in coming days to board Iran-linked oil tankers and seize commercial ships in international waters, according to U.S. officials, expanding its naval crackdown beyond the Middle East.
-
This is a serious question. It seems that on alternate days, “Iran” declares that the Strait of Hormuz is open. The Strait is closed. The Strait is open with strict Iran-favorable conditions. The Strait is closed to all except Iran friends and family. We never get a straight story. I follow the shipping news closely and even in the darkest days of the Iran crisis, a least a few ships appeared to be getting through. Early on, Iran made some threats that they were never in any position to follow through on. Nonetheless, insurance companies panicked, ship owners got cold...
-
A number of tankers and cargo ships did try to exit the strait Friday via the route designated by Iran around Larak Island but they suddenly turned back, said Matt Smith, director of commodity research at Kpler. “They’ve clearly not been given approval to pass through,” Smith said. Commercial ships must follow a route designated by Tehran and coordinate with its military, a source close to Iran’s Supreme National Security Council told Tasnim News. Ships are not allowed to pass if they or their cargoes are linked to hostile nations, according to the Tasnim report. It is “unclear whether there’s...
-
April 15 (Reuters) - China has told Danish shipping group Maersk (MAERSKb.CO), opens new tab and Switzerland-based Mediterranean Shipping Company (MSC Shipping) to cease operating ports on the Panama Canal, the Financial Times reported on Wednesday. In a meeting with China's state planner last month, Maersk and MSC Shipping were told to withdraw from the Balboa and Cristóbal ports immediately, the report said, citing two people familiar with the talks. Maersk and MSC were told not to "engage in illegal activities that harm the interests of Chinese companies, and to uphold commercial ethics and international rules," the report said. Panama...
-
According to a U.S. Central Command social media post, six merchant vessels turned around in compliance with the U.S. blockade once it went into effect Monday morning. CENTCOM spokesperson Capt. Tim Hawkins declined to provide USNI News with the names of the six ships.The Strait of Hormuz continues to be a point of contention in the ongoing war between Iran and the U.S. Iran wants control of the waterway as part of the agreement between the two countries. International maritime law treats the Strait of Hormuz as an international passage open to all, while Iran argues it is made up...
-
At least two oil and chemical tankers were forced to turn away from the Strait of Hormuz on Monday after the United States moved to enforce a naval blockade, according to maritime tracking data. One of the vessels, Rich Starry, which had listed its destination as China, reportedly reversed course within minutes of the blockade taking effect, data from MarineTraffic showed. Responding to the developments, China issued a strong message signalling it would continue its maritime activity in the region. Defence Minister Dong Jun said Chinese vessels would keep operating in the area and warned against external interference. “Our ships...
-
Iran does not need to secure the Strait of Hormuz. It only needs to make sure that no one else can, either. Despite the sorry condition of its naval forces,.. Iran still maintains selective control of the Strait of Hormuz—resulting in 80 to 90 percent of the traffic being halted. How? Not through naval dominance, but rather through asymmetric disruption, which Iran uses to make travel through the Strait too dangerous to risk. Iran Doesn’t Need to Close the Strait to Cut Off Shipping Iran’s strategy is not to implement a total blockade of the Strait of Hormuz. Instead, it...
-
FILE PHOTO: An aerial view of the island of Qeshm, separated from the Iranian mainland by the Clarence Strait, on December 10, 2023. Nicolas Economou/Reuters With thousands of US ground troops reportedly on the way to the Middle East, speculation is mounting that they may be assigned to take Iran’s Kharg Island, a key fuel hub in the northern Persian Gulf which handles 90% of Tehran’s oil exports. But Kharg is just one of dozens of Iranian islands in the gulf, and others may be more important to securing the safe passage of ships – and naval vessels –...
-
The islands of Abu Musa, Greater Tunb, and Lesser Tunb in the Persian Gulf hold the key to the global economy's most vital chokepoint: the Strait of Hormuz..In the current landscape of the West Asia conflict, the islands of Abu Musa, Greater Tunb, and Lesser Tunb have transformed from sleepy patches of sand into what military analysts call “unsinkable aircraft carriers". While the world watches the missile exchanges between major powers, these three tiny landmasses in the Persian Gulf hold the key to the global economy’s most vital chokepoint: the Strait of Hormuz.The story of how these islands became part...
-
VIDEOHerbjorn Hansson, CEO of Nordic American Tankers, joins 'Squawk on the Street' to discuss shipping uncertainties related to the Iran war.
-
Five weeks into a war that has sent oil prices soaring and left global shipping in disarray, Tehran just blinked. At least for one country. Iran announced on April 5 that it is exempting one of its closest neighbors from the Strait of Hormuz restrictions that have strangled global energy supplies since the U.S. and Israel launched their war on Iran on February 28, according to Al Jazeera. Iran’s Khatam al-Anbiya Central Headquarters said restrictions would only apply to “enemy countries.” “Brotherly Iraq is exempt from any restrictions we have imposed on the Strait of Hormuz,” Iran’s military spokesman said...
-
When the seven P&I clubs belonging to the International Group issued 72-hour cancellation notices for war risk coverage in the Persian Gulf on March 5, they did not just raise costs. They made transit impossible. P&I clubs insure roughly 90 percent of the world’s ocean-going tonnage. Without their coverage, ships cannot sail. Port authorities will not let them dock. Banks will not finance the cargo. Charterers will not book the vessel. The entire system, from loading berth to discharge terminal, is underwritten by a chain of contracts that begins with a club in London, Oslo, or Tokyo. When the clubs...
-
The UK’s is set to lead a coalition of countries including the France to help sweep the Strait of Hormuz for mines and reopen it to oil tanker traffic, according to a report. London is working to organize a summit of 30-some nations that had agreed to provide “appropriate efforts” to reopen the strait, according to Politico. Additionally, the UK said it is looking to send a either a Royal Navy mine sweeper ship or hire a civilian ship that can launch mine sweeping drones into the area, The Times reported. Iran still has at least a dozen mines in...
-
The Trump administration temporarily paused sanctions on Iranian oil “stranded at sea” Friday in an effort to curb soaring prices. “Today, the Department of the Treasury is issuing a narrowly tailored, short-term authorization permitting the sale of Iranian oil currently stranded at sea,” Treasury Secretary Scott Bessent announced on X. Bessent said easing sanctions would allow 140 million barrels of oil to hit global markets and help “relieve the temporary pressures on supply caused by Iran.” Sanctioned Iranian oil is presently being “hoarded by China on the cheap,” according to Bessent. “In essence, we will be using the Iranian barrels...
-
President Donald Trump has waived the Jones Act for 60 days to mitigate supply disruptions resulting from conflict in the Middle East. This raises a fundamental question: why do policymakers regularly suspend this law during emergencies yet leave it in place the rest of the time?The Jones Act is an antiquated 106-year-old law officially known as the Merchant Marine Act of 1920 that places draconian restrictions on the use of ships to transport goods within the United States. According to White House Press Secretary Karoline Leavitt, the waiver allowing the use of foreign vessels to transport goods “will allow vital...
-
ransomnote: Below are several of John A Konrad V's detailed posts. There are another 14 posts in this thread series at the link which I did not copy.Here's the source of the x.com thread posts below:DataRepublican (small r) repostedJohn Ʌ Konrad V@johnkonradLet's unpack this..What if the White House has no intention of reopening the Strait of Hormuz?What if this war is really about ships & tariffs?I had a long discussion with senior DOE official yesterday on background. I can’t share any details but it’s clear everyone’s Strait of Hormuz calculus is wrong.We need to go back to the drawing boards.That's...
-
Insurance giant Chubb will be the lead underwriter for a U.S. government-led program to provide insurance to ships making the risky transit through the Strait of Hormuz. Chubb will work with the U.S. International Development Finance Corp., or DFC, as part of a $20 billion plan to help get oil tankers and other commercial traffic moving again amid risks from the Iran war, the agency said. Oil prices have spiked since the war began at the end of February. Brent crude traded above $91 a barrel midmorning Wednesday. Oil prices have stayed relatively high despite an announcement Wednesday that the...
-
Three cargo ships have been hit by projectiles in the Strait of Hormuz. The Thailand-flagged bulk carrier Mayuree Naree was struck and set on fire 11 nautical miles north of Oman, the United Kingdom Maritime Trade Operations said. Oman’s navy rescued 20 crew members who evacuated the ship in a lifeboat on Wednesday morning, while three remain missing. A second ship, the Marshall Islands-flagged bulk carrier Star Gwyneth, was hit by a projectile 50 miles north-west of Dubai. The vessel suffered hull damage but all crew members are safe. A third vessel, a Japan-flagged container ship, sustained minor damage near...
-
The Trump administration has turned Venezuela into a significant U.S. oil supplier, Interior Secretary Doug Burgum said Sunday, arguing the shift will help offset Middle East disruptions and ease pressure from the global shipping crisis. "[Venezuela] was a sanctioned adversary, and now they're a strategic ally with the largest reserves with no threat of the chokehold like we have in the Strait of Hormuz," Burgum told "The Sunday Briefing." "Venezuelan oil can flow to America freely and is starting to flow, will continue to flow, and these are the kinds of things that are going to bring gas prices down...
-
A commercial oil tanker was set ablaze in the Strait of Hormuz after it was struck by an Iranian suicide drone, the country’s Islamic Revolutionary Guard Corps said Saturday, with a US Navy mission to safeguard ships through the region possibly still weeks away. The IRGC claimed the tanker — the Prima, sailing under a Maltese flag — had ignored repeated warnings not to enter the strait, according to Tasnim News Agency, Iran’s state media. The flow of oil through the strait — one of the world’s most vital energy arteries connecting the Persian Gulf with the Gulf of Oman...
|
|
|