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Strait of Hormuz

With the seizure of the Adrian Darya 1 (formerly Grace 1) by Gibraltar the Iranian government responded by seizing the UK flagged Stena Impero. With US administration's "maximum pressure" campaign continuing against Iran tension within the region continues to rise. Trade treads carefully with risk to seafarers and increased premiums against a backdrop of geopolitics

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Tanker markets await word about time for repairs to Abqaiq

Additional storage facilities in Egypt, Rotterdam and Okinawa may ease a short-term supply gap, but are not geared for any long-term shortfalls — certainly not the 5m barrels per day lost during the time that it will take to repair Abqaiq

A worker refuels a car at a gas station in Jiddah, Saudi Arabia, Monday
Between Abqaiq and a hard place

While immediate attention is being paid to oil price rises, the eventual timing of a restoration of Saudi Arabia’s production and the intervening rejig of global energy supply routes will inevitably influence multiple key factors for shipping over the coming weeks

Stena Impero to be released by Iran ‘in days’

Iran claims the British-flagged tanker and 16 seafarers still held will be released once legal proceeding are completed

VLCC deck view
Cut in Saudi output to hit tanker rates, but prospects may brighten

If the Saudis can reduce the fall in output to 2m barrels per day, additional long-haul crude flows from the US and West Africa should then be able to support tonne-mile demand and shore up rates,says Shenwan Hongyuan Securities analyst Yan Hai

Why the Adrian Darya 1 saga is an issue for the whole industry

The saga of the Adrian Darya 1, now expected to deliver its cargo of 2m barrels of Iranian crude to Syria in direct contravention of its release agreement, is an embarrassing political episode, but it should not be written off by shipping as an anomalous example of deceptive political posturing — there is a risk to the wider industry that must be addressed

Iran Sanctions Tankers and Gas

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Tanker markets await word about time for repairs to Abqaiq

Additional storage facilities in Egypt, Rotterdam and Okinawa may ease a short-term supply gap, but are not geared for any long-term shortfalls — certainly not the 5m barrels per day lost during the time that it will take to repair Abqaiq

Saudi Arabia Casualty

Between Abqaiq and a hard place

While immediate attention is being paid to oil price rises, the eventual timing of a restoration of Saudi Arabia’s production and the intervening rejig of global energy supply routes will inevitably influence multiple key factors for shipping over the coming weeks

International Saudi Arabia

Stena Impero to be released by Iran ‘in days’

Iran claims the British-flagged tanker and 16 seafarers still held will be released once legal proceeding are completed

Iran VLCC

Cut in Saudi output to hit tanker rates, but prospects may brighten

If the Saudis can reduce the fall in output to 2m barrels per day, additional long-haul crude flows from the US and West Africa should then be able to support tonne-mile demand and shore up rates,says Shenwan Hongyuan Securities analyst Yan Hai

Middle East and Africa Tankers and Gas

Asian importers confident of Saudi supply but cast wary eye on outage duration

The drone attacks on Saudi Arabia’s Abqaiq refinery and the kingdom’s second biggest oilfield, Khurais, have resulted in a loss of 5.7m barrels per day in supply, according to analysts’ estimates

International Tankers and Gas

Tanker markets await repair timeline after drone knocks out half of Saudi oil production

Abqaiq is the largest oil processing facility in the world and seen as the nerve centre of the Saudi energy system. Initial reports indicate 15 structures at Abqaiq suffered damage. A report seen by Lloyd’s List suggests repairs could take months.

Tankers and Gas Iran

D'Amico says tanker demand hit by Middle East tensions

Aside from increased demand ahead of IMO 2020, the company expects an expansion in US oil-product shipments to Asia and Latin America

International Tankers and Gas

UK naval presence is making Gulf safe for shipping, says commander

UK-flagged tanker Stena Impero, which was detained by Iran’s Revolutionary Guards in the Strait of Hormuz on July 19, remains in captivity

Tankers and Gas Iran

Viewpoint: The geopolitical seafarer

The US is being far too draconian in the way it imposes sanctions on Iran. Seafarers of any rank are unlikely to know or even be able to track down the precise details of for whom they are working. For the US to put marine workers’ names on a blacklist — even in the absence of fault or criminal intent — is misguided and unjust

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