Category Archives: Business & Finance

Damaged tankers reach safe waters after Gulf attacks

Two damaged tankers arrived safely Sunday at locations off the Emirati coast after they were rocked by explosions in Gulf waters, in an incident Saudi Arabia blamed on its regional arch-rival Iran.

The Japanese-owned Kokuka Courageous was carrying highly flammable …

Piracy, collisions, missiles: tankers in troubled waters

Tankers like those apparently attacked Thursday in the Gulf of Oman operate through increasingly treacherous waters, facing mounting dangers from piracy and collision as well as geopolitical hazards.

Around 60 million barrels of petroleum product move each day on the …

Gulf powers urge action to secure energy supplies as tankers port-bound

Saudi Arabia and the UAE on Saturday called for decisive action to protect energy supplies amid a tense US-Iran standoff as two tankers attacked in a vital Gulf shipping channel headed to port.

The United Arab Emirates’ Foreign Minister Sheikh …

Middle East tanker attacks send ship insurance soaring

The recent spike in attacks on tankers near the Persian Gulf is inflating insurance premiums for ships transiting through the wider Middle East, increasing the cost of transporting oil from the region.

Insurance rates for crude oil tankers loading in …

Risks rise in key oil chokepoint Strait of Hormuz

An alleged attack Thursday on two oil tankers near the Strait of Hormuz may increase levels of risk in the Middle East’s key crude supply and shipping artery.

The Front Altair and the Kokuka Courageous were carrying cargoes including naphtha …

Shipowners hold back from taking bookings for Middle East cargoes

A large number of shipowners were not accepting bookings for Middle East cargoes on Friday, citing lack of clarity on safety after Thursday’s attacks on two tankers in the Gulf of Oman, Singapore-based shipbrokers and Asian market sources said.

The …