By Serene Cheong (Bloomberg) -- The latest standoff between the U.S. and Iran may be leaving oil-tanker owners in more of a bind than in previous years. As the U.S. reimposes sanctions on the Islamic Republic, firms that help ferry Iranian oil risk losing access to the American financial system, similar to earlier in the decade when such measures were enforced. Additionally, … [Read more...]
U.S. LNG Exports Set to Gain as Iran Deal Dies
By Ryan Collins and Naureen S. Malik (Bloomberg) -- Another darling of the Trump administration is poised to gain from the Iran deal breakup as oil surges: Natural gas exports. With the move to curb Iran’s oil output encouraging more shale drilling, prices for natural gas produced alongside crude in West Texas could crater, falling to zero some days, according to Tudor … [Read more...]
Top Container Shipping Lines Reviewing Iran Operations
By Jonathan Saul LONDON, May 11 (Reuters) - The world's top two container shipping groups Maersk Line and MSC are reviewing their Iran operations after the United States withdrawal from the international nuclear agreement with Tehran. The 2015 agreement, worked out by the United States, five other world powers and Iran, lifted sanctions on Tehran in exchange for limits to … [Read more...]
US Withdrawal from Iran Deal Could Have ‘Significant’ Impact on Transport and Logistics
By Gavin van Marle (The Loadstar) - The response of the remaining countries to the US decision to withdraw from the Iran nuclear deal will likely determine whether non-US maritime and freight forwarding companies can continue trading with the country. The JCPOA [Joint Comprehensive Plan of Action] was signed by Iran, the EU, and the P5+1 – the five permanent members of the … [Read more...]
Oil Traders Prepare to Cut Iranian Crude
By Angelina Rascouet, Alex Longley and Rupert Rowling (Bloomberg) -- European oil refiners and trading houses began preparing to cut purchases of Iranian crude after Washington imposed harsher sanctions on shipments from Tehran than many in the energy industry had expected. The Trump administration has given buyers 180 days to wind down imports after pulling out of … [Read more...]