Chinese Container Ship Among Few Crossing Hormuz
A Chinese-operated container ship was among the few to cross the Strait of Hormuz in the past 24 hours, data showed on Thursday, as uncertainty grows around reopening the critical waterway with talks over a deal between the U.S. and Iran deadlocked.Before the war on Iran began on February 28, shipping traffic through the strait averaged 125 to 140 daily passages. Due to the conflict, 20,000 seafarers remain stranded inside the Gulf on board hundreds of ships.Shipping traffic hasā¦
NATO Not Drawing Up Plans for Hormuz Mission
NATO is not drawing up any plans for a potential mission in the Strait of Hormuz and would need a political decision to do so, its top commander said on Tuesday, amid suggestions by some members that the alliance could play a role there.Any decision to launch a mission would require the approval of all NATO's 32 members and several have already signalled opposition, although no formal proposal has been presented so far, according to diplomats."The conditions under which NATO would consider operating in the Strait of Hormuz are ultimately a political decision," said U.S.
VLCC Heads for Vietnam After Hold-Up in US Blockade
Supertanker Agios Fanourios I is heading for Vietnam to discharge its Iraqi crude oil cargo after it was held by the U.S. Navy for five days in the Gulf of Oman, shipping data on LSEG showed.The Maltese-flagged very large crude carrier (VLCC) sailed out of the Strait of Hormuz on May 10 and was sailing in the Gulf of Oman before making a U-turn on May 11. It resumed its journey toward Vietnam on May 16 and is expected to arrive at the Nghi Son refinery on May 30, LSEG data showed.The U.S.
Oil Prices Rise Amid Fears of Ship Attacks and Seizures
Oil prices rose Friday as market concerns persisted over ship attacks and seizures despite Iran saying about 30 vessels had passed through the Strait of Hormuz, while the U.S. and Chinese presidents were set for a second day of talks in Beijing.Brent crude oil futures LCOc1 rose 60 cents, or 0.57%, to $106.32 a barrel by 0100 GMT, while U.S. West Texas Intermediate futures CLc1 were up 54 cents, or 0.53%, to $101.71.A ship was reported seized by Iranian personnel off the United Arab Emirates and headed for Iranian waters on Thursday, while the White House said U.S.
South Korea Weighs Phased Role in Hormuz Mission
South Korea is reviewing a phased contribution to efforts to ensure safe navigation through the Strait of Hormuz, Defense Minister Ahn Gyu-back said on Wednesday, signaling support steps short of military participation, Yonhap News Agency reported.Ahn told a press conference with South Korean media correspondents in Washington that he had conveyed Seoulās position at a meeting with U.S. Secretary of Defense Pete Hegseth on Monday."We said at about this level that, fundamentallyā¦
Oil Tanker Hit Near Strait of Hormuz, US Pauses Assist Program for Stranded Vessels
A Chinese-owned oil products tanker was attacked near the Strait of Hormuz on Monday, Chinese media outlet Caixin reported, as President Donald Trump launched a U.S. plan that day to help stranded vessels but suspended it a day later.This was the first time a Chinese oil tanker has been attacked, a person with knowledge of the matter told Caixin on Thursday.Traffic through the vital strait, through which 20% of the āworld's oil and gas supplies pass, has been at a virtual standstillā¦
Oil Prices Fall 3% As Ship Passes Through Hormuz, US-Iran Ceasefire Holds
Oil prices fell about 3% on Tuesday with at least one vessel passing through the Strait of Hormuz after the United States said the ceasefire with Iran remained in place despite exchanges of fire between the U.S. and Iran following a U.S. effort to reopen the strait for oil tankers and other ships.Brent futures fell $3.43, or 3.0%, to $111.01 a barrel at 10:29 a.m. EDT (1429 GMT), while U.S. West Texas Intermediate (WTI) crude fell $4.55, or 4.3%, to $101.87. Earlier in the sessionā¦
Baltic Exchange Sued Over Hormuz Freight Losses
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 20,000 seafarers stranded inside the Gulf and unable to sail through the vital chokepoints with only a few ships willing to make the voyages daily.In a court filing dated April 30 and submitted through England's high courtā¦
