Asia

Data showed that a Chinese-operated ship was "among the few" to cross the Strait 'Hormuz? in the last 24 hours. This comes as the uncertainty about reopening this critical waterway grows, with the talks between the U.S.A. and Iran at a standstill. Prior to the start of the war against Iran on February 28, the average daily shipping through the strait was 125-140 passages. As a result of the conflict, 20,000 sailors are still stranded on hundreds of ships in the?Gulf. According to an analysis based on ship tracking data, there were 10 ships per day that entered and left...

The crew of the tanker gathered courage and navigated carefully along the route designated by Iran. They hugged the coast and manoeuvred their massive vessel between island checkpoints in the Strait of Hormuz. Agios Fanourios 1, a 330 metre long vessel, loaded with Iraqi crude and bound for Vietnam had been bottle-?up near the coast of Dubai, since late April. On May 10, the tanker set out for the Strait of Hormuz after an agreement with Iran, overseen by Iraq’s Prime Minister. The Iranian orders to the tanker are part of the complex multi-tiered system that Iran has used for...

The U.S. sanctioned tanker, Rich Starry,?arrived back at the Strait of?Hormuz Wednesday, after leaving the Gulf the previous day,?shipping information showed. It failed to?break a U.S.?blockade?on ships calling at Iranian port. U.S. president Donald Trump announced the ban on Sunday, after the weekend talks between the U.S. government and Iran in Islamabad failed to produce a result. The U.S. Central Command reported on X that "no ships were able to get past the U.S. Blockade during the first 24 hour period." Six vessels complied with the direction of U.S. Forces to turn around and re-enter a port in Iran. On...

Zefyros's manager in Greece confirmed that the tanker was struck by a missile overnight during a ship-to -ship transfer. Benetech Shipping SA reported that the incident took place at Iraq's Umm Qasar Anchorage late Wednesday during a transfer of fuel cargo with the Safesea Vishnu Tanker. All 23 crew members have been accounted for and are safe. The 23 crew members were evacuated and brought to land, according to a statement. SOMO reported that the Safesea Vishnu had been chartered by a company in Iraq contracted with State Organization for the Marketing of Oil. The Zefyros, meanwhile, was loaded with...

According to analysis of ship tracking platforms such as 'Kpler' and 'Lloyd's List' Intelligence, a Greek-operated tanker sailed across the Strait of Hormuz on Monday with a cargo of Saudi Arabian crude oil and India listed as its destination. Hundreds of ships are anchored on both sides of the strait as the U.S. and Israel war against Iran continues. The oil and shipping markets are watching for any signs of increased sailings through this critical waterway, through which most of the world's crude oil passes. MarineTraffic data showed that the Shenlong Suezmax, a tanker with a 1 million-barrel capacity, had...

The leading shipping and labour groups have said that seafarers are entitled to refuse to sail on ships traversing the Middle East Gulf, which includes the Strait of Hormuz. This is because the threat level in the region has been raised to the highest level. As the U.S. war against Iran intensifies, around 300 ships are anchored both sides of the Strait. Nine ships have suffered damage since?February 28 and one seafarer has been killed. According to the International Bargaining Forum, a group of mariners, commercial shipping companies, and maritime unions, reached a negotiated agreement on Thursday. Seafarers can refuse...

The Lloyd's market in London is in contact with the United States. The International Development Finance Corporation of the U.S. government is negotiating with Lloyd's Market officials about a plan to provide political risk assurance and guarantees for maritime trade in the Gulf. Lloyd's engages constructively with U.S. Development Finance Corporation, and other relevant stakeholders. The market is focused on maintaining its position as the "global centre for excellence in war risk insurance." A Lloyd's spokesperson stated. Sheila Cameron, CEO of the Lloyd's Market Association (LMA), who represents all underwriting companies in the Lloyd's market, said in a separate statement...

According to shipping ministry advisories, Greece warned its shipping fleet to take the most stringent security measures when sailing into Russian Black Sea ports following drone attacks this week on two Greek-operated oil tankers. Drones hit two oil tankers, including one chartered from U.S. oil giant Chevron as they approached the marine terminal of the Caspian Pipeline Consortium on the Black Sea coast of Russia. Greek-operated tankers are among the largest in the world. They are crucial for trade along the Black Sea, where Bulgaria,?Georgia?, Romania?, Turkey?, and Russia?, who are at war with Ukraine?, which Moscow invaded?in February 2022?....

In recent days, dozens of commercial ships dropped anchor outside Iran's ports, according to shipping and data sources. This is happening as tensions between the United States and Iran grow. Shipping sources said that such movements were "precautionary" given the tensions surrounding the ongoing protests in Iran. Port limits are important because they increase the risk of collateral damages in the event that air strikes hit nearby infrastructure. A U.S. official announced on Wednesday that the U.S. was withdrawing personnel from Middle East bases after a senior Iranian officials said Tehran warned its neighbours it would strike American bases if...

Two U.S. officials confirmed on Friday that the U.S. was in the process to seize?the Olina oil tanker near Trinidad in the Caribbean. This is the fifth interdiction of ships in recent weeks, as part of Washington’s efforts in order to control Venezuelan crude exports. According to an industry source who has direct knowledge of the situation, the Olina had sailed previously from Venezuela, and returned to the area. The British maritime risk management company,?Vanguard, said that the vessel's AIS tracker (location) was last active 52days ago in the Venezuelan EEZ to Curacao's northeast. The seizure comes after a long...

Sources in the industry said that insurance rates for war risks increased after Ukrainian drones attacked two tankers headed to a Russian harbor. Fears of more attacks prompted insurers to raise their prices. Black Sea is vital for shipping grain, oil, and oil products. Bulgaria, Georgia and Romania, as well Russia and Ukraine, share its waters. Shipping and insurance sources reported that war risk rates, which are determined by each underwriter and are based upon the value of the vessel, have risen to 0.5% from 0.4% a week earlier for calls to Ukrainian port. Sources said that the war risk...

LONDON, October 17 - Singapore called on the U.N. Shipping Agency to delay the adoption of a price for carbon on ships to allow time to reach a consensus. This was after the United States, Saudi Arabia and other countries were unable to agree on a deal at the London talks due to strong opposition. Washington and Riyadh - the two world's largest oil producers - have both strongly opposed a price on carbon emissions for shipping in discussions at the International Maritime Organization. The European Union, however, has continued to back the idea. Singapore voted for the carbon tax...

Two sources confirmed on Tuesday that the U.S. and Thailand were in discussions on a 'new long-term supply' of U.S. produced liquefied?gas. Negotiations have intensified since the U.S./Israeli war against Iran caused damage to LNG production in Qatar, a key LNG exporter. Sources familiar with the talks, who requested anonymity because of the sensitive nature of the discussion, stated that the focus is on a long-term contract between Venture Global (an international energy company) and Thailand's PTT PCL (the state-controlled power company). Sources did not specify the volume or duration of any new LNG contract being discussed but typically they...

Bangladesh has launched an international bid for oil and gas exploration in 26 offshore blocks?in the Bay of Bengal. It is offering more attractive terms to foreign companies to combat worsening domestic shortages of gas and to reduce its reliance on expensive LNG imports. South Asia has been facing declining gas reserves, increasing dependence on LNG imports, and energy prices that are vulnerable to geopolitical tensions. Petrobangla, a state-owned company, published the tender documents for the Bangladesh Offshore Model Production Sharing Contract 2026 on its website. The deadline to submit bids was November 30, 2018. Energy Minister Iqbal Hassan Mahmood...

The Swiss government announced on Friday that it had expanded its sanctions against Russia and Belarus, adopting portions of the latest package of measures from the European Union in response to Moscow's conflict in Ukraine. The Federal Department of Economic Affairs (FDEA)?said that the new listings will take effect at 11 p.m. on May 22. Further 115 individuals and companies will be subject to asset freezing and a 'ban' on making funds available. Sanctioned individuals are also barred from entering Switzerland or transiting through it. The department stated that the newly listed targets included people and 'entities connected to Russia's...

The Iran War is likely to be the largest supply shock in the history on the aluminium market. According to the International Aluminium Institute, the Gulf's?production? of the metal, used in sectors such as packaging, solar panels and transport, plummeted in April to its lowest level in more than a decade. The regional run-rates fell by 2 million metric tonnes annually between March and April. In missile attacks, two Gulf aluminium smelters were damaged. The?Al Taweelah facility of Emirates Global Aluminium will require a full year to be repaired. One other producer,?Qatalum, has also reduced its?capacity. The ongoing closure of...

Kommersant reported that the?Russian-installed governor Yevgeny Balitsky said Friday that emergency blackouts were occurring in the 'Russia-controlled region of Ukraine's Zaporizhzhia. According to Kommersant, he did not provide any further details but said that critical infrastructure worked as usual. Vladimir Saldo said in Telegram that nine areas were cut off from the grid following drone attacks. Local authorities reported on Telegram that in the early morning hours of Friday, Russian defence systems worked to repel drone attacks over Moscow and the Yaroslavl Region?in the north. Sergei Sobyanin, the Mayor of Moscow, said in Telegram that four drones heading for Moscow...

Air India CEO Campbell Wilson said on Thursday that his successor would have "hands-on" work, as the carrier deals with the fallout of the Iran War and the strong U.S. Dollar. Wilson, who announced his resignation from Air India last month, has said that he will be leaving the company in two or three months. Wilson said that the next four years will be "just as challenging, but in a slightly different way" at a luncheon event in New York. "The person who takes over the role will have a lot on their plate, but I want to make sure...

Donald Trump, President of the United States, vowed on Thursday to'recover' Iran's stockpile of highly enriched Uranium. This was despite Iran's comments that they would not give the material over. We will get it. We don't have to, and we don't even want it. Trump told reporters at the White House that he would probably destroy it once we had it. But we wouldn't let them keep it. Iran is thought to have about 900 pounds (or more) of highly enriched Uranium. Trump claims that U.S. airstrikes and Israeli airstrikes destroyed it a year or so ago. Trump's war on...

In recent months, Ukraine has intensified its attacks on Russian energy installations as the peace talks have not produced any progress. Dmitry Peskov, Kremlin spokesperson, said that there are no dangers to the fuel supply in Russia. He was responding to a report on a drop in oil refinery in the central region of the country after recent drone attacks by Ukraine. The following is a chronological summary of the recent attacks that followed Russian strikes against Ukrainian energy facilities and their impact. SYZRAN On Thursday, the Ukrainian military and President Volodymyr Zelenskiy claimed that Ukrainian drones had struck Rosneft's...

Gazprom shares fell on Thursday, despite the announcement that they would not be paying a dividend for '2025' results. They were also impacted by Russia's inability to reach a deal with China on a new pipeline. The shares of Russia's biggest natural gas producer fell almost 1% in early trade at the Moscow stock exchange, continuing the previous day's decline of 3.5%. "Yesterday the Moscow Exchange Index fell?by 1.2 percent, unable withstand a?double disappointment: reports from China regarding the 'lack of clarity about the 'timeframe for implementing the Power of Siberia?2 project and Gazprom refusing to pay dividends in 2025,"...

Sultan Al Jaber said that the new crude oil pipeline, which bypasses the Strait of Hormuz, and was started by the United Arab Emirates?last year, is now?50% completed. Since the U.S. and Israeli strikes in February, Iran has kept the critical waterway for global oil-and-gas supplies closed to all ships except its own. This has sent energy prices and inflation soaring, which has fuelled fears of a recession. Abu Dhabi Media Office announced the existence of the project for the first-time last week. The UAE plans to accelerate the construction of a new oil pipeline via Fujairah in order to...

China and 'Russia' condemned U.S. President Donald Trump’s Golden Dome missile defense shield plans and Washington's 'irresponsible' nuclear policy during a joint meeting on 'Wednesday', a week following President Xi 'Jinping's hosting of Trump in Beijing. In a joint statement, Xi and Russian 'President Vladimir Putin' said that Trump’s plans for a missile interceptor system based on the ground and in space posed a serious threat to strategic stability around the world. The report also criticised the United States for the expiration of the last remaining nuclear treaty that restricted the size of U.S.-Russian arsenals. This expired in February after...

China has increased its purchases of Russian gas and oil since the beginning of the conflict in Ukraine 2022. Moscow and Beijing declared a partnership with "no limitations" just days before war broke out. Energy relations between Russia and China are expected to be a major topic at the meeting of Vladimir Putin with Xi Jinping in Beijing, on Wednesday. Here are some facts about energy ties between the two countries. Gazprom, the Russian energy giant, supplies natural gas to China through a pipeline of 3,000 km (1,865 miles) called Power of Siberia, under a $400 billion, 30-year deal signed...