Daily Archives: May 13, 2019

‘Maximum restraint’: Europe allies reject US escalation with Iran

European diplomats urged the United States to exercise “maximum restraint” as tensions mount in the Gulf a year after Washington withdrew from a landmark deal that curbed Iran‘s nuclear programme.

Federica Mogherini, the European Union‘s diplomatic chief, stressed …

UK War Risks Club says investigating Fujairah ship sabotage incident

The UK War Risks Club, which provides specialist insurance for ships, is investigating the incidents of sabotage of vessels in Fujairah port over the weekend and has not decided on additional premiums for the region, a company executive said Monday.…

Tanker owners resort to idling VLCCs as returns fall below operating costs

The lingering oversupply of vessels in the VLCC market has left shipowners weighing options to either idle, reduce sailing speed extensively or take on only short voyages as freight returns are seen below operating costs.

The Time Charterer Equivalent or …

Who can secure shipping lines in the Gulf?

“Sabotaged and significantly damaged.” 

Saudi Arabia said two of its oil tankers were attacked off the coast of the United Arab Emirates. Riyadh has also called on the international community to protect maritime navigation.

The incidents happened off the …