Military escalation, attacks on oil tankers and a new “tanker-for-tanker” strategy put commercial shipping at the centre of the U.S.–Iran confrontation. The security situation around the Strait of Hormuz has entered a more dangerous phase after the United States launched a new wave of strikes against Iranian targets, following a […]
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The Very Large Crude Carrier (VLCC) market has entered exceptional territory, with freight rates surging simultaneously across both sides of the Suez Canal. Strong Chinese crude buying, rapidly tightening vessel availability and the continuing security challenges around the Strait of Hormuz are combining to create one of the most dramatic […]
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Oil exports are recovering across the Arabian Gulf as alternative pipelines and export facilities help offset continued disruption in the Strait of Hormuz. However, vessel movements through the strategic waterway remain far below normal levels. Oil flows from the Persian Gulf region have reportedly recovered to approximately 15 million barrels […]
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Oil prices moved higher on Friday as uncertainty surrounding the reopening and future operating conditions of the Strait of Hormuz continued to unsettle energy markets. The latest market reaction follows proposals from Iran, reportedly being discussed with Oman, that could introduce strict conditions on vessels seeking to transit the strategic […]
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An environmental disaster is rapidly developing off the coast of Oman after the stranded crude oil tanker Caroline Bezengi began releasing oil into the Arabian Sea, threatening one of the region’s most sensitive marine ecosystems and globally significant turtle nesting beaches. The Cameroon-flagged Supermax tanker Caroline Bezengi (159,168 DWT) has […]
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The security situation in the Red Sea has deteriorated once again after Iran-backed Houthi militants launched attacks on Saudi-linked oil tankers, raising fresh concerns over the safety of one of the world’s most critical energy shipping corridors. Maritime analysts now warn that hopes of a gradual return to normal operations […]
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Oman is racing against time to prevent a major environmental disaster after the sanctioned tanker Caroline Bezengi (IMO 9224439) began breaking apart while stranded on rocks near the Hallaniyat Islands, off the Dhofar coast in southwestern Oman. Authorities warn that unless urgent salvage efforts begin, the vessel could split apart […]
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