By Alex Longley (Bloomberg) -- Not since 2005 have the world’s insurers considered shipping in the Persian Gulf so dangerous for oil tankers. The Joint War Committee of London’s Lloyd’s Market Association said Friday that it would expand its so-called ‘listed areas’ -- those regions that pose the greatest risks for shipping, and potentially warranting higher … [Read more...]
Strait of Hormuz: The World’s Most Important Oil Artery -FAQ
LONDON, April 23 (Reuters) - Iran has said it would block the Strait of Hormuz if it was barred from using the strategic waterway through which about a fifth of oil that is consumed globally passes. The threat from an Islamic Revolutionary Guards Corps (IRGC) commander followed a U.S. announcement on Monday that it would end exemptions granted last year to eight buyers of … [Read more...]
Iran Ready for U.S. Waivers to End as Guards Threaten to Shut Strait of Hormuz
DUBAI, April 22 (Reuters) - Tehran is prepared for a U.S. decision to end waivers granted to buyers of Iranian crude, an Iranian oil ministry source said on Monday, as the Revolutionary Guards repeated their threat to close the strategic Strait of Hormuz, Iranian media reported. The United States will fail to cut Iranian oil exports to zero, the semi-official Tasnim news … [Read more...]
Iran Conducts Large Scale 100 Vessel War Game
by Robin Pomeroy (Reuters) - Iran on Friday began large-scale naval drills at the mouth of the Gulf, which will feature its first submarine cruise missile launches, state media reported, at a time of rising tensions with the United States. More than 100 vessels were taking part in the three-day war games in a vast area stretching from the Strait of Hormuz to the Indian … [Read more...]
Trump, Iran and the New Guns of August -James Stavridis
By James Stavridis (Bloomberg Opinion) -- In the hot summer of 1987, I was a young Navy officer sailing into the Arabian Gulf via the Strait of Hormuz onboard the Valley Forge, a brand new and heavily armed Aegis Cruiser. Our mission, code-named Ernest Will, was to escort merchant ships in and out of the Gulf, protecting them from the threat of Iranian cruise missiles and air … [Read more...]