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
The Iran war and the closure of the Strait of Hormuz have shattered a status quo that prevailed among Middle East oil and gas producers for decades. Even if the current, shaky ceasefire holds, the uneasy “new normal” has likely set the stage for yet another round of conflict.Tehran has now demonstrated both its ability and willingness to seal off the critical waterway and strike vital
Marinetrans, a Norway-based logistics specialist for the maritime and offshore industries, has secured the project logistics contract from Black & Veatch for two floating liquefied natural gas (FLNG) vessel construction projects.Under the contracts, spanning from 2025 to 2027, Marinetrans will provide comprehensive project logistics services, including the transportation of critical components
French President Emmanuel Macron will travel to Greece next week to renew a security pact between the two countries against the backdrop of the war in Iran, a Greek government official said on Sunday.France and Greece, long-standing NATO allies, signed a security and defense agreement in 2021
An oil tanker loaded with Iraqi crude passed through the Strait of Hormuz close to the Iranian coast, a day after Iran said Iraq was exempt from any restrictions to transit the vital sea route, data from LSEG and Kpler showed.The Ocean Thunder loaded about 1 million barrels of Basrah Heavy crude on March 2 and is expected to discharge its cargo in Malaysia's Pengerang, in mid-April
Shipping companies Maersk, Hapag-Lloyd and CMA CGM are rerouting vessels around Africa, away from the Suez Canal and the Bab el-Mandeb Strait, after U.S. and Israeli strikes on Iran and the closure of the Strait of Hormuz."Due to the deteriorating security situation in the Middle East region following the escalating military conflict, we have decided...
Russia's Novorossiysk port resumed oil loadings on Sunday after a two-day suspension triggered by a Ukrainian missile and drone attack, two industry sources said and LSEG data showed.Novorossiysk and a neighbouring Caspian Pipeline Consortium terminal temporarily suspended oil exports - equivalent to 2.2 million barrels per day, or 2% of global supply - on Friday.
Five people were killed and another severely wounded when a boat carrying migrants hit a Turkish coast guard vessel off northwest Turkey on Sunday, a local governor's office said, adding a search operation was underway for a missing person.In a statement, the governor's office said a high-speed boat carrying 34 migrants and one migrant trafficker hit the coast guard vessel off Ayvalik district's