President Donald Trump has extended for 90 days a waiver allowing foreign-flagged ships to transport oil and other commodities between U.S. ports, but imposed new limits after shipbuilders and their allies in Congress argued the policy was undermining the domestic maritime industry, the White House said.
Oil prices rose to their highest in almost six weeks on Wednesday, with Brent crude surpassing $95 a barrel, on mounting concerns about disruptions to Middle Eastern supply routes because of escalating hostilities between the U.S. and Iran and threats to shipping by the Iran-backed Houthi militia in Yemen.Brent crude futures were up $2.23, or 2.45%, at $93.
Greek shipping company Dynacom Tankers said two of its managed vessels were hit by projectiles of unknown origin on Monday while sailing off the coast of Oman.The re-escalation in fighting between the U.S. and Iran is again threatening commercial shipping through the Strait of Hormuz as Iranian forces target vessels and the U.S. moves to enforce its blockade of the country's ports.
British commandos boarded and intercepted a sanctioned Russian shadow fleet oil tanker in the Channel on Sunday, leading for the first time an operation to disrupt the oil revenue that helps fund Russia's war in Ukraine.The vessel Smyrtos, sailing under a Cameroonian flag, was boarded by Royal Marine Commandos and National Crime Agency (NCA) officials in the early hours on Sunday
Commodity trader Mercuria is suing the Baltic Exchange, the world's top provider of benchmark shipping indices, over losses it said were caused by oil tanker pricing data that did not account for the effective closure of the Strait of Hormuz, a court filing showed.The U.S.-Israeli war with Iran, which began on February 28, has left hundreds of ships and 20
Panama-flagged tanker Idemitsu Maru, carrying 2 million barrels of Saudi oil, crossed the Strait of Hormuz, LSEG shipping data showed on Tuesday, becoming the first Japan-linked crude tanker to do so since the Iran war began.Before the U.S.-Iran conflict broke out on February 28 and disrupted Middle East crude oil and liquefied natural gas supplies
Shippers on Wednesday said they needed more clarity on the terms of the U.S.-Iran ceasefire before resuming transit through the Strait of Hormuz, as Iran said the waterway remained closed to vessels sailing without a permit.The six‑week conflict had brought traffic through the strait - a chokepoint for about 20% of global oil and liquefied natural gas (LNG) shipments - close to a standstill
Iran attacked a fully-loaded crude oil tanker at Dubai Port's anchorage on Monday, setting it ablaze and damaging its hull, Kuwait's state news agency reported, citing Kuwait Petroleum Corp, which warned of a possible oil spill.The apparent strike is just the latest in a string of assaults on merchant vessels by missiles or explosive air and sea drones in the Gulf and Strait of Hormuz since the U.
Three vessels have been hit by unknown projectiles in the Strait of Hormuz, maritime security agencies and sources said on Wednesday, as one of the strikes led to a fire onboard a ship and forced most of its crew to evacuate it.The Thailand-flagged bulk carrier Mayuree Naree was targeted and damaged approximately 11 nautical miles north of Oman, two maritime security sources said.
A newly built very large gas carrier (VLGC) was named Lucent Pathfinder at a ceremony held at Kawasaki Heavy Industries’ Sakaide Works, marking the seventh dual-fuel LPG carrier using LPG ordered by NYK.The vessel, which will be chartered by United Arab Emirates-based LPG trader BGN INT DMCC
Britain targeted Russia's two largest oil companies, Lukoil and Rosneft, and 44 shadow fleet tankers on Wednesday in what it described as a new bid to tighten energy sanctions and choke off Kremlin revenues.Lukoil and Rosneft were designated under Britain's Russia sanctions laws for what London described as their role in supporting the Russian government.
Vessels owned or operated by U.S. firms and individuals - or those built in the United States or that fly the U.S. flag - will be charged additional port fees per voyage starting on October 14, China's transport ministry said.The fees are a counter-measure against upcoming U.S. port fees on Chinese ships, the ministry said on Friday.