London Marine Insurers Widen Middle East Threat Zone

LONDON, May 17 (Reuters) - London's marine insurance market has extended the list of waters deemed as high risk to include Oman, the United Arab Emirates and the Gulf after ship attacks off Fujairah, officials said on Friday. The London insurance market's Joint War Committee issued a statement saying the additions detail areas of perceived enhanced risk for marine insurers … [Read more...]

Insurer Says Iran’s Guards Likely Organized Tanker Attacks

By Jonathan Saul and Gwladys Fouche LONDON/OSLO, May 17 (Reuters) - Iran's elite Revolutionary Guards (IRGC) are "highly likely" to have facilitated attacks last Sunday on four tankers including two Saudi ships off Fujairah in the United Arab Emirates, according to a Norwegian insurers' report seen by Reuters. The UAE, Saudi Arabia and Norway are investigating the attacks, … [Read more...]

Tanker Unloads Iranian Fuel Oil in China After Nearly 5-Month Trek

By Roslan Khasawneh and Muyu Xu SINGAPORE/BEIJING, May 16 (Reuters) - A tanker carrying Iranian fuel oil in violation of U.S. sanctions has unloaded the cargo into storage tanks near the Chinese city of Zhoushan, according to ship tracking data on Refinitiv Eikon. The discharging of the nearly 130,000 tonnes of Iranian fuel oil onboard the tanker, the Marshal Z, … [Read more...]

Oil Traders Begin Slow Work of Cleaning Tainted Russian Cargoes

By Sherry Su and Serene Cheong (Bloomberg) -- Oil traders are starting the slow process of cleaning up cargoes of Russian crude that were loaded onto tankers at a port in the Baltic Sea during a contamination crisis. Doing so will involve cargo transfers on the high seas, shipping barrels thousands of miles, and -- finally -- careful dilution to avoid damaging oil … [Read more...]