January 22, 2020
Marsh, one of the world’s largest insurance brokers and risk advisers, has seen a spike in clients’ inquiries for political violence cover in the Gulf after attacks on tankers and oil installations rattled the region last year, an executive said. …
October 11, 2019
An Iranian-owned oil tanker was struck, probably by missiles, in the Red Sea off Saudi Arabia’s coast on Friday, Iranian media said, an incident that if confirmed will stoke tension in a region rattled by attacks on tankers and oil …
August 2, 2019
Following weeks of mounting tensions in the Persian Gulf where vessels have been attacked and an oil tanker has been seized, recent news reports reveal that shipowners are trying minimize risk – by turning off their transponders and changing their …
August 1, 2019
Oil tanker owners are finding a way to reduce the risks of navigating the Strait of Hormuz, the world’s most important — and lately most dangerous — energy chokepoint: vanish from global tracking systems. Copying from Iran’s own playbook, at …
July 15, 2019
Panama will withdraw its flag from more vessels that violate sanctions and international legislation, the country’s maritime authority told Reuters, following the removal of about 60 ships linked to Iran and Syria from the Panamanian registry in recent months. After …
July 11, 2019
The British navy intervened to stop Iran from blocking a commercial oil tanker leaving the Persian Gulf, heightening friction just as European nations scramble to salvage a landmark nuclear accord with the Islamic Republic. The BP Plc-operated British Heritage, which …
July 9, 2019
Oil tanker owners are avoiding sending their ships to the Middle East’s main refueling hub after a spate of attacks on vessels in the past two months ratcheted up tensions and highlighted the growing risks of operating in the region. …
September 20, 2018
India’s Chennai Petroleum will stop processing Iranian crude oil from October to keep its insurance coverage once new sanctions by the United States against Iran go into effect, three sources familiar with the issue said. Iran’s Naftiran Intertrade Co. Ltd., …
August 20, 2018
Chinese buyers of Iranian oil are starting to shift their cargoes to vessels owned by National Iranian Tanker Co. (NITC) for nearly all of their imports to keep supply flowing amid the re-imposition of economic sanctions by the United States. …
July 26, 2018
India’s Hindustan Petroleum Corp. (HPCL) canceled the purchase of an Iranian oil cargo earlier this month after its insurance company refused to provide coverage for the crude because of U.S. sanctions, three sources with knowledge of the matter said. HPCL, …