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Drone Strike on Kuwaiti Oil Tanker off Dubai Signals Further Escalation in Gulf
Tehran attacked and set ablaze a fully loaded crude oil tanker off Dubai on Tuesday, despite a threat by President Donald Trump that the U.S. will obliterate Iran's energy plants if it does not agree to a peace deal and open the Strait of Hormuz.Authorities in Dubai said the fire on the Kuwait-flagged Al-Salmi had been brought under control following a drone attack, with no oil leak and no injuries to the crew.
Kuwaiti Tanker Ablaze in Dubai Port
Iran attacked a fully-loaded crude oil tanker at Dubai Port's anchorage on Monday, setting it ablaze and damaging its hull, Kuwait's state news agency reported, citing Kuwait Petroleum Corp, which warned of a possible oil spill.The apparent strike is just the latest in a string of assaults on merchant vessels by missiles or explosive air and sea drones in the Gulf and Strait of Hormuz since the U.S. and Israel attacked Iran on February 28.U.S.
Pakistan Prepares for Talks on Ending Iran War
Pakistan said on Sunday it was preparing to host "meaningful talks" to end the conflict over Iran in coming days even though Tehran earlier accused Washington of preparing a land assault while seeking negotiations.Speaking after talks between regional foreign ministers, Pakistan's Foreign Minister Ishaq Dar said they had covered possible ways to bring an early and permanent end to the war in the region…
Iran War Sends LNG Prices Soaring, Curbing Asia Demand
The Iran war is upending the global LNG outlook as soaring prices, damage to major supplier Qatar's export infrastructure and potential delays to new supply raise doubts about previously expected demand from price-sensitive Asian buyers.Before the war, analysts expected global liquefied natural gas supply to rise as much as 10% this year to between 460 million and 484 million metric tons as new capacity, mainly in the U.S.
International Group Delivers Aid to Cuba
Cuba on Tuesday received a shipment of humanitarian aid from the Nuestra America Convoy, an international effort organized by global activists seeking to circumvent U.S. sanctions that severely restrict shipments of fuel and other goods to the island.The aid arrived in a small ship that departed last week from the port of Progreso in Mexico and entered Havana Harbor early on Tuesday, delivering 14 tons of food, medicine, solar panels and bicycles to Cuban authorities.
Christian Ortego, Christie Miller Named as Vice Presidents at HII’s Newport News Shipbuilding
HII announced the selection of two vice presidents at its Newport News Shipbuilding (NNS) division. Christie Miller has been promoted to the role of vice president of communications and Christian Ortego will join the division as vice president and NNS chief counsel.In her new role, Miller will have responsibility for internal and executive communications, special events and protocol, and tradeshows and tours for NNS.Starting her career with the company in 2011…
Oil Rises as Iran Denies US Talks, Supply Risks Persist
Oil prices rose on Tuesday on supply fear, as Iran denied it had talks with the United States to end the war in the Gulf, contradicting U.S. President Donald Trump who said a deal could be reached soon.Brent futures LCOc1 rose $2.89, or 2.9%, to $102.83 a barrel at 0710 GMT, while U.S. West Texas Intermediate (WTI) CLc1 climbed $2.49, or 2.8%, to $90.62.Crude futures dropped more than 10% on Monday, after Trump ordered a five-day delay to attacks on Iran's power plants, saying the U.S.
Ship Recycling Pauses for Eid
Eid al-Fitr has arrived to greet the world's ship recycling markets this week, and as is tradition, it came bearing the gift of silence, reports cash buyer GMS. “From Chattogram to Gadani, Alang to Aliağa, the holy festival has pressed pause on an industry that was already beginning to feel the compounding weight of war, currency volatility, and a stubborn absence of fresh tonnage offerings.”The ongoing conflict in the Middle East…
Iran Trades Threats with Trump
Iran said on Sunday it would strike the energy and water systems of its Gulf neighbours in retaliation if U.S. President Donald Trump follows through with a threat to hit Iran's electricity grid in 48 hours, escalating the three-week-old war.The prospect of tit-for-tat strikes on civilian infrastructure could deepen the regional crisis and further rattle global markets when they reopen on Monday morning.Air raid sirens sounded across Israel from the early hours of Sunday…
US to Deploy Amphibious Assault Ship, Marines to Middle East
The U.S. military is deploying a large amphibious assault ship with thousands of additional Marines and sailors to the Middle East, three U.S. officials told Reuters on Friday, as Iran's new supreme leader hailed Iran's "unity" and "resistance".Reuters had reported that Washington, desperate to reopen the Gulf oil bottleneck of the Strait of Hormuz, shut by Iran since the U.S. and Israel attacked almost three weeks ago…
Tanker Bound for Cuba with Fuel Cargo Diverts to Trinidad
A tanker carrying fuel originally bound for Cuba on Friday changed its destination to Trinidad and Tobago, according to LSEG ship-tracking data, a blow for the island amid a severe fuel scarcity that has triggered power blackouts.The Hong Kong-flagged vessel Sea Horse loaded a diesel cargo earlier this year through a ship-to-ship transfer in the Mediterranean before setting sail to the Caribbean.The Russian-origin cargo was bound for Cuba…
Energy Prices Jump After Iran Attacks Qatar LNG Plant
Energy prices surged on Thursday after Iran struck the world’s largest LNG complex, causing damage that Qatar said could take five years to repair, as the energy sector's worst fears about the war launched by the U.S. and Israel on Iran came true.QatarEnergy CEO Saad al-Kaabi told Reuters the state-owned gas company may have to declare force majeure on long-term contracts to Italy, Belgium, South Korea…
China Calls for Gulf Conflict to End, Addressing Southeast Asia Energy Shortages
China called for an end to conflict in the Gulf and said the safety of waterways should not be disturbed on Thursday, adding that it was ready to work with Southeast Asia to address energy shortages as oil markets reel from supply shocks.While the U.S.-Israeli war on Iran has allowed China to cast itself as the more reliable superpower, analysts say it is wary of global energy market uncertainty, not…
Iran Fires Missiles at Qatar Energy Hub
Iran accused Israel of striking its facilities in the huge South Pars gas field on Wednesday in a major escalation in the U.S.-Israeli war that sent oil prices shooting higher, and retaliated by vowing attacks on oil and gas targets throughout the Gulf, firing missiles at Qatar and Saudi Arabia.Qatar's state oil giant QatarEnergy reported "extensive damage" after the Ras Laffan Industrial City, an energy-industry hub, was hit by Iranian missiles.
Industry Bodies Raise Concerns about Jones Act Waiver
Major US maritime organizations have issued statements voicing their concern over the Trump Administration’s decision to issue a sweeping 60-day waiver of the Jones Act.Under the Jones Act, goods shipped between U.S. ports must be carried on vessels that are U.S.-built, U.S.-flagged and mostly U.S.-owned. A coalition of U.S. maritime labor organizations, including the American Maritime Officers; American Radio Association…
Iranian Oil Facilities Under Attack, Site Evacuations Advised
Iranian gas facilities in the Gulf came under attack on Wednesday, state media reported, prompting Tehran to say it would target a range of energy installations across Saudi Arabia, the United Arab Emirates and Qatar "in the coming hours".Oil prices jumped on the news, with Brent crude futures gaining more than 6% to a session high just shy of $110 per barrel.The attacks on Iran's energy industry in…
List of Vessels Attacked Since Start of War in Iran
The U.S.-Israeli war on Iran has threatened Gulf ports and disrupted global trade through the Strait of Hormuz, a vital waterway through which roughly a fifth of the world's oil and liquefied natural gas normally passes. Iran's Revolutionary Guards have warned that any ship passing through the narrow Strait will be targeted.Below is a list of reported attacks since the U.S.-Israeli war on Iran started…
Trump Upset as Other Nations Reject Call for Hormuz Warship Escorts
Several U.S. allies rebuffed Donald Trump's call on Monday to send warships to escort tankers through the Strait of Hormuz, drawing criticism from the U.S. president, who accused Western partners of ingratitude after decades of support.The U.S.-Israeli war on Iran is in its third week with no end in sight. The critical Strait of Hormuz, through which 20% of the world's oil and liquefied natural gas flow…
BP Wins US Approval for Kaskida Project
British energy major BP has received approval from the Trump administration to advance its Kaskida project in the Gulf of Mexico, a company spokesperson told Reuters in an emailed statement late on Friday.The $5 billion investment would unlock 10 billion barrels of resources that BP has discovered in the Paleogene fields of the U.S. Gulf, the spokesperson said.The U.S. Department of the Interior's approval of Kaskida follows a year-long review of the company's development plan…
US Officials Predict Quick End to Iran War
U.S. officials responding to economic uncertainty over high oil prices predicted on Sunday that the U.S.-Israeli war on Iran would end within weeks and that a drop in energy costs would follow, despite Iran's assertion that it remains "stable and strong" and ready to defend itself.U.S. President Donald Trump threatened more strikes on Iran's main oil export hub Kharg Island over the weekend and said…
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