Keywords: Shipping disruption
Iran has acknowledged it cannot locate or remove all naval mines laid in the Strait of Hormuz during its conflict with the United States, U.S. officials said Friday. The admission adds a major risk to an already fragile ceasefire and to high-stakes talks scheduled in Islamabad. The disclosure, first......
Saudi Arabia and the United Arab Emirates have launched a new trade route linking Sharjah to Dammam, opening a multimodal corridor designed to keep goods moving as shipping risks rise across the Gulf. The project was announced on March 23 by Saudi Ports Authority, known as Mawani, and comes as commercial......
Two liquefied petroleum gas tankers have passed through the Strait of Hormuz heading to India as Asian governments scramble to manage a widening energy crisis triggered by the United States and Israeli war with Iran and the disruption of shipping through the critical waterway. The conflict has sharply......
The effective closure of the Strait of Hormuz has pushed global oil tanker freight rates to unprecedented levels, reshaping maritime trade and delivering exceptional profits for shipping companies that positioned themselves ahead of the crisis. Daily charter rates for very large crude carriers, or VLCCs,......
Shipping data shows that at least 150 tankers, including crude oil and liquefied natural gas vessels, have been forced to anchor in open waters near the Strait of Hormuz. Dozens more remain stationary on the opposite side of the strategic chokepoint. The maritime congestion follows recent airstrikes......
In a dramatic escalation of maritime tensions, a Greek-flagged oil tanker, the Sounion, came under siege in the Red Sea on Wednesday morning. The vessel, carrying a crew of 25, was subjected to multiple attacks, leaving it engulfed in flames and drifting helplessly in international waters. The incident......
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