Asia

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...

U.S. Central Command in a 'note to seafarers' seen on Monday said that the U.S. military will enforce a 'blockade of all vessels in the Gulf of Oman and the Arabian Sea east of the Strait of Hormuz. The note stated that the blockade will come into effect at 1400 GMT Monday. The note stated that "any vessel entering or leaving the 'blockaded area' without authorization will be subject to interception, diversion and capture." The blockade won't impede transit neutral traffic through the Strait of Hormuz from or to non-Iranian locations. The note stated that the blockade would "encompasses?the entire?Iranian...

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...

Sonangol Marine Services, a U.S.-based representative of Sonangol Marine Services, said that the hull of the Bahamas flagged crude tanker Sonangol Namibe was likely to have been breached following a blast when it was anchored near Iraq’s Khor al Zubair Port. A small vessel unknown approached the vessel on March 5 at 1200 local time. Sonangol Marine Services issued a statement saying that "the'small boat' approached the port-side of the tanker and a loud boom was heard a few moments later." The crew reports that the port ballast tank is leaking water, which indicates some type of hull rupture. However,...

Sources in shipping and maritime safety said that the Russian-flagged liquefied gas 'tanker Arctic Metagaz was on fire in the Mediterranean, but it is not known what happened to its crew. According to data from the MarineTraffic platform, the vessel that is under U.S. sanctions and UK sanctions last reported its position as being off the coast of Malta, on Monday. One source said that Ukraine was suspected of carrying out this operation. Requests for comment from the Russian Transport Ministry, Russian LNG producer Novatek and the vessel's manager LLC SMP Techmanagement in Russia did not receive a response. Separately,...

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...

Robert Fico, the Prime Minister, said that Slovakia would file a lawsuit against the European Union in "the coming days" to challenge its decision to ban Russian Gas Imports. The EU's decision was adopted by a?"qualified?majority". Fico, who criticized the way in which the regulation was adopted, said that the suit would be filed at the EU Court of Justice. A majority of countries voted to ban Russian 'gas imports by the end of 2027. This allowed the EU to override the opposition from Slovakia and Hungary earlier this year when they voted to approve the measure. Fico stated that...

Authorities?said?that all eight people aboard a helicopter died?when it crashed?in Indonesia's West Kalimantan province?as they tried to recover the bodies and wreckage. Mohammad Syafii said that the Airbus H130 helicopter had lost contact five minutes after it took off from a plantation in Melawi. The location of the crash, or the loss of contact, is in an area of dense?forested terrain with steep hills," Syafii stated. He added that'rescuers found debris believed to be the tail from the helicopter about 3 km (2 miles), west of the point where contact was lost. The cause of the crash is still unknown....

The Slovakian Foreign Minister said that the country is prepared to block the European Union’s?latest package sanctions against Russia?for their invasion of Ukraine, until the Druzhba?oil?pipeline is operational?again. Slovakia and Hungary are in a dispute with Ukraine about the suspension of Russian Oil Supplies through Druzhba following an outage in the line, which Kyiv claims was caused by a Russian Attack in late January. Kyiv has said that repairs will take time. However, Ukrainian President Volodymyr Zelenskiy stated?that Druzhba could be operational at the end of this month. TASR reported that Juraj Blanar, the Slovak Minister of Foreign Affairs was...

Friedrich Merz, the German chancellor, said that Germany would be willing to help secure transit routes through the Strait of Hormuz once hostilities ended, provided they had a mandate from the United Nations and German parliament approval. Merz, speaking to reporters the day before the talks in Paris, said that they would also discuss whether U.S. forces could participate in a missions. It has led to a halt in traffic through the Strait of Hormuz, which typically carries about 20% of world oil and liquefied natural gas flows. The war has caused a halt to traffic through the Strait of...

Insurers told a London 'court' on Thursday that the Nord Stream pipelines in Ukraine were targeted by Russia as a 'direct result' of its invasion. They are trying to avoid paying nearly 580 millions euros ($684million) for blasts which hit the pipelines. Nord Stream has filed a lawsuit against Lloyd's and Arch Insurance for explosions that occurred in September 2022, which ruptured the pipelines transporting Russian gas from under the Baltic Sea into Germany. The explosions, for which no one has claimed responsibility, have largely cut off Russian gas supplies in Europe. This marks a significant escalation of the conflict....

The Iran War is triggering a global crisis on the?aluminium markets, with potentially devastating effects in sectors such as construction, packaging and transport. Even if war ended tomorrow, it would take Emirates Global Aluminium up to one year to recover from damage caused by a missile attack?on the Al Taweelah Smelter last month. Aluminium Bahrain, which is the largest single-site production facility outside of China, was also hit. However, the extent of the damage is not known at this time. Alba and Qatar Aluminium had both reduced production prior to the attack due to power shortages. The Strait of Hormuz...

Nigerian airlines will cease all flights on April 20 unless the crippling jet fuel price, which they accuse the country's "fuel marketers" of artificially increasing, is reduced. Airline Operators of Nigeria (an industry group consisting of around 12 mainly domestic carriers) complained to the Major Energies Marketers Association of Nigeria in a letter dated April 14 that jet fuel had increased by approximately 270% since February. The price of oil and fuel has risen since the start of the Iran War, because the conflict is preventing shipping through the Strait of Hormuz. In a letter to AON, the company called...

The Iran War is triggering a global crisis on the aluminium market that could have devastating effects in sectors such as construction, packaging and transport. Even if war ended tomorrow, it could take Emirates Global Aluminium up to one year to recover from damage caused by a missile attack on its Al Taweelah Smelter last month. The largest production site outside of China, Aluminium?Bahrain has also been?hit, though the extent of damage is not yet known. Alba and Qatar Aluminium had already reduced production prior to the attack due to power shortages. The Strait of Hormuz is severely restricted, and...

State news agencies from both Jordan and the United Arab Emirates reported that they signed an agreement on Wednesday to start a $2.3 billion rail line to 'Aqaba Port' and to form a joint venture to build and run it. The agreement relates to?the construction of a 360-kilometre rail?linking mining areas in Jordan, Al-Shidiya & Ghor Al-Safi with its port of Aqaba. The project will?transport 16 metric tons of phosphate and potassium?annually with an investment totaling $2.3 billion. The UAE's official news agency said that the UAE-Jordan Railway Company is a joint venture of?several Jordanian stakeholder and L'IMAD Holding Company,...

Peter Magyar, Hungary's acclaimed election winner, said that he will need to speak with the leaders of oil company MOL in order to ensure fuel security. The centre-right TISZA party (Respect and Freedom), led by Magyars, won a landslide victory at Sunday's elections. This ended the 16-year reign of nationalist Prime Minister Viktor Orban. Orban set a price cap for fuel in early March as the global prices of diesel and petrol rose due to a rise in oil prices fueled by the conflict with Iran. The government of Hungary also prohibited the export of crude, diesel and 95-octane gasoline...

Senior executives from Canadian oil and gas companies said that they expect sharply higher profits for 2026 due to a 'price surge caused by the Iran War.' However, these earnings will be returned to shareholders rather than invested in new major capital projects. The executives admitted that their financial fortunes had changed drastically in the wake the Middle East conflict, which has disrupted the global oil and natural gas supply and sent Brent and West Texas Intermediate crude benchmarks soaring. The CEOs of Canada, which is the fourth largest oil producer in the world, said that the shock in commodity...

The International Energy Agency has drastically cut their 'forecasts' for the growth of global oil supply and demand. Both are expected to drop from levels in 2025 as wars in the Middle East disrupt oil flows and weigh on a global economy. The IEA has revised its projections for global 'oil demand' to a decline of 80,000 barrels a day by?2026. This is compared to a projected increase year-on-year of 640,000 bpd iin the previous monthly report. The IEA stated that "demand destruction" will continue to spread as long as scarcity and high prices continue. It added that the Middle...