Middle East

After a vessel was struck in the Gulf of Oman, the?United Nations Shipping Agency halted an evacuation effort on Thursday, aimed at getting hundreds of stranded vessels and tens of thousands of seafarers through 'the Strait of Hormuz. "I was informed of a ship that had passed through the Strait of?Hormuz today being attacked in the Gulf of Oman. The vessel was not evacuated under the IMO framework", Arsenio Dominguez, Secretary General of?the U.N. International Maritime Organization said in a press release. "I've decided to temporarily pause the implementation of this plan in order to confirm that all the necessary...

The prices of Caspian crude oil grades such as Kazakhstan's CPC Blend and Azerbaijan Azeri BTC are falling despite the growing pressure on European barrels, traders said. The difference between Caspian crude oil and Brent has weakened in line with the global trend. As Gulf oil supplies increase, physical cargoes in many regions are now at discounts to Brent. Iran is expected to boost sales after a temporary easing of U.S. sanction. On Wednesday, oil prices fell further, continuing the declines that began earlier in the week. They are now hovering at four-month lows as more tankers, which have been...

A spokesperson announced on Wednesday that ships have started sailing through the 'Strait of Hormuz' under a new scheme by the U.N.'s shipping agency in order to evacuate vessels trapped there by the conflict. International Maritime Organization announced on Tuesday that the initiative, which took months to complete, would allow hundreds of ships and 11,000 seafarers stranded at the Gulf of Mexico to pass through Hormuz. A spokesperson for the IMO said that "ships have already started to pass under this plan", refusing to give any details about the vessels that have crossed. LSEG ship-tracking data showed that at least...

The major Gulf stock exchanges rose in the early trading on Wednesday, amid signs of progress in U.S.Iran negotiations. However, there was still uncertainty about?the durability? of the agreement. The two countries that concluded the first round of negotiations on Monday in Switzerland gave contradictory accounts of some key elements of the Framework Agreement signed last week for the end of the war. These included financial incentives to Iran, control of the Strait of Hormuz, and Israel's war in Lebanon. Donald Trump, the U.S. president, said that Iran agreed to nuclear inspections in "infinity" on Tuesday. Tehran denied this concession...

The grain freight rates in Ukraine are down despite the 'ongoing Russian attacks' on Black Sea ports, ASAP Agri said on Monday. They cited a seasonal decline in cargo flow. Last week, officials and industry executives told? Last week, industry executives and officials told? The Ukrainian Navy said Monday that a Russian drone?hit a Turkish dry cargo vessel, causing an extensive fire on board. Ukraine is a major grain exporter in the world, and its Black Sea port handles more than 90% of its exports. ASAP Agri stated that as Ukraine closes its 2025/26 summer-july export season, the historically low...

According to trade'sources' and a document that was reviewed by, Kuwait Petroleum Corp (KPC), has made its first offer to?sell spot naphtha -cargoes from its ports for?July. This is the company’s first tender since the start of the U.S.Iran War. Documents showed that the state-owned oil company is offering 55,000 metric tons (495,00 barrels) of petrochemical feedstock or 80,000 tonnes, with the loading scheduled for the weekend of July 5-7 at any port in Kuwait. The bid closes on 22 June with same-day valid. KPC didn't immediately respond to a request for comment made outside the working hours of the...

Aviation authorities confirmed that a technical problem in air 'traffic control', which was triggered by security precautions?for the peace talks between the U.S.A. and Iran?in Switzerland?, caused disruptions? at the Zurich airport?on Sunday. They added that the problem has been resolved. Skyguide, a Swiss air traffic control authority, said that the glitch was caused by the integration of the restricted zone above Buergenstock in radar display systems. This is the Swiss mountain resort, where the negotiations are taking place. According to a statement, the zone was decided only at the last minute as the decision to hold the most recent...

The executive board of the Islamic Development Bank (IsDB), announced late Friday, approved a EUR650.7m ($746.2m) loan to Uganda 'to help finance its standard gauge rail project. Uganda is raising money for the EUR2.7billion?project. It has already received backing from lenders such as the World Bank and?African Development Bank. Citibank has been appointed to assist in the mobilisation of?financing. Turkish company Yapi Merkezi is responsible for the construction of the railway. IsDB was one of Uganda's largest sources of external funding and had, as of the end May, projects in a country east of Africa worth $896.5 Million, according to...

Chaiyaporn?Arunrasamee, hunched with his nets over the Andaman Sea, is a Thai government official proposing a "Land Bridge", which will ferry goods from ports on either side of the peninsula. Chaiyaporn stated that he did not want the project to be implemented. The Thai Prime Minister Anutin Charnvirakul revived the project after the war with Iran and the closing of the Hormuz Strait revealed the countries' dependence on strategic maritime chokepoints. Plans envisage a '1 trillion baht logistics corridor ($30.45billion) to provide an alternative route through the Strait of Malacca, which is currently clogged with traffic. The corridor will connect...

The U.S. Transportation Department announced Tuesday that Saudi Arabia's Riyadh Air won the rights to fly to and from the United States. Last week, the airline began its first London flight using its new Boeing fleet. Riyadh Air, Saudi Arabia's next national airline, will be launched in 2023. It is owned by Saudia's Public Investment Fund. USDOT stated that "the grant of this authority is in the public's interest." Riyadh Air informed the?USDOT last month when it requested approval that it intended to operate to more than 100 destinations Delta Air Lines, for example, has or is planning partnerships with...

Loss of?barrels, and increased prices are already signs that the Iran war has disrupted global crude oil and gas markets. With a U.S. peace deal with Iran expected to reopen Strait of Hormuz in the near future, it's time to assess whether this was a 'watershed moment or just another blip. Consider two precedents. Volkswagen's "Dieselgate", a scandal in 2015 over rigged emission tests, seemed innocent at first. But it signaled the end of diesel cars for passenger vehicles and the rise?of electric vehicle (EVs). The 2022 Russian invasion of Ukraine sparked a dramatic rise in energy prices. However, the...

Losses in barrels of crude oil and increased prices are already a result of the Iran war. With a U.S. - Iran peace deal expected that will reopen the Strait of Hormuz the reckoning has begun: Was this a watershed or just another blip, we ask? Consider two ?precedents. Volkswagen's "Dieselgate", a scandal involving rigged emission tests in 2015, seemed innocent at first. But it signalled the end of diesel cars for passenger vehicles and the rise in electric vehicles (EVs). The impact of Russia's invasion of Ukraine in 2022 was short-lived due to the market's ability reroute the flows...

A top U.N. official announced on Friday that the United Nations was working with countries to resume the evacuating of hundreds of vessels and thousands of stranded seafarers in the Strait of Hormuz, after this effort had been halted earlier in the week. The U.N. International Maritime Organization announced on Thursday that it had "temporarily paused' its evacuation initiative following the attack on a container vessel operated by Taiwan-based Evergreen. IMO Secretary General Arsenio Dominguez said that 115 ships and around 2,500 seafarers were able to navigate through the strait, before evacuations ceased. Dominguez stated that he is working "vigilantly",...

A spokesperson for the U.N. shipping agency said that ships have already passed through 'the Strait of Hormuz' under a newly-launched evacuation scheme. A spokesperson for the International Maritime Organization (IMO), a U.N. agency, said that "ships have already started to pass under the plan." He declined to give any 'details' on the ships that had passed. LSEG's ship tracking data revealed on Wednesday that two dry -bulk ships, and one cargo -ship, have sailed through Hormuz in the past 12 hours. According to LSEG & MarineTraffic'ship tracking data' based on an analysis of ship movement, at least 35 commercial...

Police and health officials reported that at least 21 Iraqis were killed and 19 injured when a passenger?bus crashed and caught fire?near Nassiriya, a southern?city?. Officials?stated that the accident happened after the driver lost the control of the vehicle on a highway near Nassiriya. The vehicle then flipped over and erupted in flames. His office reported that Iraqi Prime Minister Ali al-Zaidi had ordered an investigation to determine the cause of the crash. He also instructed authorities to submit a report detailing the circumstances of the accident. Officials from the police and medical services confirmed that 21 people died at...

Western governments should accelerate the scrapping of unregulated vessels that have been sanctioned and give their operators time to dispose of them, as environmental risks are increasing daily. In recent years, the?use of so-called'shadow?fleets?or dark fleets of tankers has increased. Hundreds of tankers are transporting Iranian and Russian oil without any safety or insurance checks. Evangelos Marinakis is the founder and chairman at Greece's Capital Maritime & Trading Corp., a major ship owner with more than 285 vessels on order. He has been pushing to remove unregulated tankers in global trading. Marinakis said during the Posidonia Shipping Week in Athens...

Shipping data shows that two tankers with oil products have left the Strait of Hormuz in the last week while a liquefied gas carrier has loaded cargo into the United Arab Emirates. These are rare movements, as the traffic through this chokepoint is still limited. The U.S. and Israeli war against Iran began on February 28, but despite the fact that several tankers left the Gulf over the last month, oil and LNG flow is still severely restricted. Around a fifth of the world's oil and LNG supplies normally pass through the Strait of Hormuz. The Aframax Cy Victorious tanker,?carrying...

Shipping data revealed that two tankers loaded with oil products left the Strait of Hormuz in the last week while a liquefied natural gas carrier loaded cargo?in the United Arab Emirates. These are 'rare' movements as the traffic through this chokepoint is still limited. The U.S. and Israeli war against Iran began on February 28, but oil and gas flows remain severely restricted. Around a fifth of the world's oil and LNG supplies normally pass through the Strait of Hormuz. The Aframax Cy Victorious tanker, which was carrying more than 508,000 barrels of straight-run high-sulfur fuel oil and at least...

The public transport organizer said that a'self-driving' bus, made by Turkey’s Karsan, was hit?from behind? by a tram in Gothenburg (Sweden) on Monday. This happened just one hour after the bus began to carry paying passengers. The bus braked, and the tram hit it, said Patrik Chi, a spokesperson for Vasttrafik. Vasttrafik is owned by the'regional public transportation authority. Chi claims that the collision did not cause any injuries. However, Gothenburg is currently undergoing a 'year-long trial for autonomous public transport using Karsan e-ATAK buses. Karsan stated in a Tuesday statement that the full details of this incident are being...

Shipping data shows that two liquefied gas tankers will leave the 'Strait of Hormuz today, bound for Pakistan and China. Meanwhile, a supertanker carrying iraqi oil bound for China has left the Gulf after nearly three months of being stuck. The U.S. and Israeli war against Iran, which began on 28 February, has caused a severe curtailment of shipping through the Strait of Hormuz. Around one-fifth of world oil and LNG is normally transported through this strait. These vessels are part of a small group of supertankers that will be leaving the Gulf via a transit path Iran has requested...

Shipping data revealed that a liquefied gas tanker left the Strait of Hormuz on Monday and headed to Pakistan, while a supertanker carrying iraqi oil bound for China had just left the Middle East Gulf after nearly three months of being stuck. The U.S. and Israeli war against Iran, which began on 28 February, has severely restricted shipping through the Strait of Hormuz. Through this Strait of Hormuz normally flows?around one fifth of the world's oil and LNG supply. These vessels are among a few supertankers that have left the Gulf via a transit path ordered by Iran. Three Very...

LSEG shipping data revealed that on Tuesday the Panama-flagged?tanker Idemitsu Maru crossed the?Strait?of Hormuz with 2?million?barrels of Saudi crude oil. It was the first Japan-linked tanker to have done so since the Iran War began. Japan imported 95% of its crude oil from the Middle East before the U.S. - Iran conflict erupted on February 28, disrupting Middle East crude and liquefied gas supplies. A large portion of this oil was shipped via the Strait of Hormuz. This move is in response to the recent diplomatic efforts of Japan to secure energy supplies that were disrupted due to the war....

Shipping data from Friday showed that only five ships have passed through the Strait of Hormuz, including an Iranian oil tanker. This is after Iran seized two container vessels this week, and the U.S. has continued to blockade Iranian ports. The shipping traffic that passes through the 'crucial waterway' at the entrance to?Gulf? during an uneasy ceasefire, between Washington and Tehran, represents only a fraction the 140 average daily passages prior to the Iran War beginning on February 28, 2008. "Most shipping companies will need to have a stable ceasefire, and both sides of conflict must reassure them that the...

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...