By Ann Koh and Low De Wei (Bloomberg) --Stena Bulk AB, one of the world’s biggest tanker lines, plans to run some of its ships on used cooking oil to offer customers a way to offset their pollution. The major problem might be getting enough of it. Stena Immortal, a medium-range tanker that can transport around 40,000 tons of fuel, made a 10-day voyage from Rotterdam to the … [Read more...]
Stena Impero Owner Meets with Iran to Urge Its Release
LONDON, Aug 21 (Reuters) - The owner of a British-flagged tanker detained in Iran has met the country's foreign minister, Mohammad Javad Zarif, to make the case for the ship and its crew to be released. Erik Hanell, chief executive of Stena Bulk, met Zarif in Stockholm on Aug. 20 to ask for the Stena Impero to be released. It was detained by Tehran on July 19, two weeks … [Read more...]
Iranian Forces Seize Two U.K.-Linked Tankers as Tensions Soar
By Golnar Motevalli, Nick Wadhams and Tim Ross (Bloomberg) --Iran’s Revolutionary Guard Corps seized a British oil tanker and a Liberian-flagged ship in the Strait of Hormuz amid soaring tensions in one of the world’s critical energy chokepoints. U.K. officials demanded the immediate release of the vessels, one of which later left Iranian waters. Brent futures climbed as … [Read more...]
Trump Will Work With U.K. On Stena Impero Response
by Josh Wingrove (Bloomberg) President Donald Trump said he will work with the U.K. government on a response to Iran’s seizure of a British oil tanker in the Strait of Hormuz. “We have a very close alliance with the U.K.,” Trump said at the White House on Friday as he departed for his golf resort in Bedminster, New Jersey. “I will be working with the U.K.” Iran’s … [Read more...]
Oil Jumps as Tanker Seizure Escalates Tensions With Iran
By Harkiran Dhillon (Bloomberg) Oil climbed after Iran’s Revolutionary Guard Corp said it seized a British-flagged tanker in the Strait of Hormuz, raising stakes in the critical oil chokepoint. London-traded Brent futures climbed almost 1% while the U.S. benchmark also rose. The seizure of the tanker is the second Iranian move against a U.K. ship in just over a week. … [Read more...]