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...]
World’s No. 2 Shipping Line MSC Stops New Bookings for Iran
LONDON, May 16 (Reuters) - The world's No. 2 container shipping line MSC said on Wednesday it would stop taking new bookings for Iran due to the decision by the United States to re-impose sanctions on Tehran after withdrawing from the international nuclear deal. In a note to clients, privately held MSC said it was "ceasing to provide access to services to and from Iran," … [Read more...]
Maersk Tankers to Wind Down Customer Agreements in Iran
COPENHAGEN, May 16 (Reuters) - Danish oil product tanker operator Maersk Tankers said on Wednesday it would wind down its customer agreements in Iran by November following new U.S. sanctions on Tehran. "We will perform customer agreements entered into before May 8 and ensure that they are wound down by November 4, as required by the re-imposed U.S. sanctions," the company … [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...]