By Luke Baker LONDON, Jan 13 (Reuters) - Iran is unlikely to block the Strait of Hormuz, the world's busiest oil-shipping channel, in reprisal for the killing of Qassem Soleimani for fear of aggravating its Gulf allies and China, regional analysts said on Monday. Tehran has long threatened to block the waterway between Iran and Oman - 33 km (21 miles) wide at its narrowest … [Read more...]
Tanker Owners Face Insurance Headache as Mideast War Risk Haunts Shipping Trade
By Jessica Jaganathan and Koustav Samanta SINGAPORE, Jan 9 (Reuters) - Even as the United States and Iran appear to signal a keenness to avoid further conflict, oil and gas shipowners are bracing to pay a price for the war of words that culminated in rocket strikes in Iraq over the last week - higher insurance bills. According to industry sources, payments known as war risk … [Read more...]
United States Warns Commercial Vessels of Threat from Iran
The United States has reissued an alert to commercial vessels in the Middle East to the maritime threat from the Iranian military and its proxies following the United States’ killing of Iranian general Qassem Soleimani. The alert (2020-001B) covers the Persian Gulf, Strait of Hormuz, Gulf of Oman, Arabian Sea, Red Sea, Gulf of Aden, and Indian Ocean. “Multiple maritime … [Read more...]
Oil Shippers Raise Offers for Middle East Route on Gulf Risk
By Serene Cheong, Sharon Cho and Ann Koh (Bloomberg) --Owners of oil tankers are boosting their rates to haul crude on a key route from the Middle East as risks in the Gulf escalate after Iran retaliated against the U.S. killing of a top general. Shipowners are offering rates for supertankers carrying crude from the Persian Gulf to China at increasingly higher levels, in … [Read more...]
Britain’s Royal Navy to Escort UK-Flagged Ships Through Strait of Hormuz
LONDON, Jan 4 (Reuters) - Britain's navy will accompany UK-flagged ships through the Strait of Hormuz to provide protection after the U.S. killing of Iranian military commander Qassem Soleimani inflamed tensions in the region. Britain's defense minister, Ben Wallace, ordered the HMS Montrose and HMS Defender to prepare to return to escort duties in the major oil shipping … [Read more...]