Keywords: Shipping
Global fuel oil markets are facing the prospect of a significant supply shortage in the third quarter as disruptions linked to the war in the Middle East encourage refineries to prioritize higher-demand products such as diesel, gasoline and jet fuel. Energy consultancy Energy Aspects estimates that......
Goldman Sachs has warned that crude oil prices could surge to as much as $120 a barrel if attacks on commercial vessels in the Middle East intensify, highlighting the growing risks facing global energy markets amid mounting geopolitical tensions. Dan Struyven, co-head of Global Commodities Research......
Initial shipping data indicates that commercial traffic through the Strait of Hormuz remains significantly below normal levels amid heightened tensions and renewed fighting between the United States and Iran. Four commodity-carrying vessels crossed the strategic waterway on Thursday, down from nine......
Only six commercial vessels crossed the Strait of Hormuz on Wednesday, according to preliminary shipping data, highlighting the continued disruption affecting one of the world's most important maritime energy routes. Data from shipping intelligence company Kpler, recorded as of 04:05 GMT on Thursday,......
U.S. military forces have diverted 86 commercial vessels and stopped three others since Washington imposed a blockade on Iranian ports in mid-July, according to U.S. Central Command (CENTCOM). In a statement published on X, CENTCOM said that as of September 2, American forces had redirected 86 commercial......
U.S. President Donald Trump has floated the idea of renaming the Strait of Hormuz the “Trump Strait” after claiming that the United States has gained control over the strategically vital waterway. In a post on his Truth Social platform, Trump asked whether the strait should be renamed now......
India is increasingly looking toward Russia’s Northern Sea Route as a potential alternative for transporting goods to Europe, with industry representatives highlighting the corridor’s shorter distance and potential to reduce transit times by around two weeks. Rakesh Mishra, head of Indian......
Morocco is emerging as a leading African market for the delivery of new marine tugboats, highlighting the country’s growing capabilities in maritime services and logistics as it strengthens its position as a regional hub for sea trade and transportation. According to industry reports, Morocco......
The European Union has called for the protection of freedom of navigation in the Strait of Hormuz, a vital maritime passage for global trade and energy supplies, as tensions in the strategic waterway continue to disrupt shipping activity. EU High Representative for Foreign Affairs and Security Policy......
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