Trump says cargo ship tried to get past US naval blockade near strait of Hormuz ‘and it did not go well for them’
The US military took custody of an Iranian-flagged container ship that attempted to get past an American blockade near the strait of Hormuz, Donald Trump announced on Sunday.
In a social media post, Trump said that an “Iranian-flagged cargo ship named TOUSKA” tried to get past the US naval blockade, “and it did not go well for them”.
Continue reading...Oil prices and borrowing costs are expected to rise this week as tankers remain stranded in the Gulf
The failure of the US and Iran to reach a peace deal after marathon negotiations has put markets on alert for further oil and gas price rises.
With large numbers of oil tankers remaining stuck in the Gulf, the US vice-president, JD Vance, blamed the collapse of the talks on Tehran’s refusal to abandon its nuclear weapons programme, while Iranian sources hit back at “excessive” demands from Washington.
Continue reading...Industry fears strait of Hormuz closure could disrupt shipping of crucial parts for UK and German North Sea projects
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A string of large offshore wind projects in Europe are facing potential delays as the Iran war threatens to disrupt shipping of crucial parts manufactured in the Gulf.
Industry sources are concerned that components ordered from suppliers in the United Arab Emirates could become trapped if shipping remains effectively blocked through the strait of Hormuz.
Continue reading...Report shows how minerals critical to defense readiness have seen a ‘near total’ disruption in seaborne trade
The closure of the strait of Hormuz is causing a “paralyzing, real-time problem” for any prospective manufacturing surge in the US defense industrial base, and even for the repair of defense equipment damaged by Iranian attacks, according to analysis published by West Point’s Modern War Institute.
In particular sulphur, a vital upstream input in the extraction of critical minerals including copper and cobalt, has seen a “near total” disruption of seaborne trade in the straits, which makes up half the world’s total shipments, and prices have spiked nearly 25% since the war began, and seen a 165% rise year on year, the report said.
Continue reading...Donald Trump insists surge in energy prices is ‘very small price to pay’ as Middle East conflict sparks fresh stock market sell-off
Oil prices surged past $100 per barrel for the first time since 2022 as fallout from the US-Israel war with Iran continued to rattle global markets and leading economies moved to tackle a worsening energy supply crisis.
A weekend of escalating violence in the Middle East intensified concerns around a sustained supply crunch, propelling oil prices to their highest level in four years and triggering a deep stock market sell-off.
Continue reading...National Gas insists storage broadly in line with levels for time of year despite disruption for tankers carrying LNG
Great Britain has only two days of fossil gas stored after a decline in energy reserves, as more tankers carrying liquefied natural gas (LNG) are diverted from their course to Europe towards Asia because of the Iran war.
Great Britain had 6,999 gigawatt hours (GWh) of fossil gas stored on Saturday, according to figures from National Gas, which owns and operates the gas national transmission system. This compares with 9,105 GWh a year earlier.
Continue reading...At least four tankers have been struck by drones and maritime traffic has dropped by 80%, reports say
Iran has in effect closed the strait of Hormuz to oil and gas exports for the past four days with a mixture of drone strikes and fear that has halted commercial maritime traffic despite intense US attacks on Iran’s navy.
At least four tankers have been struck and Lloyd’s List Intelligence reported that seaborne traffic had dropped by 80% on Sunday, with little sign of a return as key maritime insurers cancelled cover the next day.
Continue reading...Beijing’s foreign ministry urges ‘all parties’ to avoid escalation as number of crossings drops 60% in one day
The Chinese government has called for vessels passing through the strait of Hormuz to be protected by all sides in the escalating Iran conflict, as shipping freight rates soared.
Maritime traffic through the strait – a narrow channel on Iran’s southern border that connects the Persian Gulf with the Gulf of Oman – has effectively been closed since the US and Israel launched missile attacks on Iran at the weekend, prompting a retaliation from Tehran.
Continue reading...Dublin, Helsinki, Stockholm and Tallinn among port cities more choked by sulphur oxides from ferries, analysis shows
Fume-belching ferries spew more sulphur pollution than cars in several EU capitals, analysis has found.
Dublin, Helsinki, Stockholm and Tallinn are among 13 of Europe’s 15 biggest port cities choked more by sulphur oxides (SOx) from ferries than road vehicles, data shared exclusively with the Guardian shows.
Continue reading...Strait of Hormuz is effectively closed and vessels rerouted, sending some freight costs surging
Leading maritime insurers have cancelled war risk cover for vessels operating in the Gulf as the escalating Iran conflict disrupted shipping and sent some freight costs surging.
At least 150 vessels including oil and liquefied natural gas tankers have dropped anchor in the strait of Hormuz and surrounding waters, and at least three tankers were damaged and one seafarer killed over the weekend.
Continue reading...Belgian special forces boarded the Ethera, which was sailing under the flag of Guinea, on Saturday night
Belgium has seized an oil tanker believed to form part of the so-called “shadow fleet” used by Russia to circumvent western sanctions over the war in Ukraine.
Special forces assisted by French helicopters boarded the ship in a clandestine operation in the North Sea on Saturday night, Belgium’s defence minister, Theo Francken, said on Sunday.
Continue reading...Valuables were being transported in 1715 from American colonies when a hurricane wrecked a Spanish fleet
Hidden beneath the turquoise waters off a stretch of Florida known as the “treasure coast”, a team of divers from a shipwreck salvage company have uncovered exactly that – a load of long-lost Spanish treasure they estimate is worth $1m.
More than 1,000 silver and gold coins thought to be minted in the Spanish colonies where Bolivia, Mexico and Peru now sit were uncovered this summer off Florida’s Atlantic coast, 1715 Fleet-Queens Jewels LLC announced this week.
Continue reading...Four more people rescued, with 11 still missing and six believed kidnapped, after Eternity C sank in Red Sea
Four seafarers have been rescued after spending more than 48 hours in the waters of the Red Sea, as the search continued for the remaining crew of the Greek ship Eternity C, which was sunk by Houthi militants in an attack that killed at least four people.
Thursday’s rescue brought the number of those saved to 10 – eight Filipino crew, one Indian security guard and a Greek guard.
Continue reading...Search goes on for 14 people missing from Eternity C after assault in which at least four were killed
Seven crew members of a cargo ship that sank in the Red Sea after an attack by Houthi forces have been rescued but at least four were killed and 14 others are still missing.
The seven seafarers from the cargo ship Eternity C spent more than 24 hours in the water before being rescued, according to security firms involved in the operation. Rescuers are still searching for missing crew members.
Continue reading...Vessels on Rhine in Germany and Danube in Hungary forced to sail partially loaded
Low water levels after heatwaves and drought are limiting shipping on some of Europe’s biggest rivers including the Rhine and the Danube and pushing up transport costs.
As much of Europe swelters in hot temperatures, water levels in its main rivers have fallen. This is affecting shipping along the Rhine – one of Europe’s key waterways – south of Duisburg and Cologne in Germany, including the choke point of Kaub, forcing vessels to sail about half full.
Continue reading...About 200,00 barrels of jet fuel to be transferred before Stena Immaculate is taken to north-east coast for inspection
A US oil tanker that was hit by a container ship in the North Sea is to be towed to the north-east of England after more than 200,000 barrels of jet fuel are removed over the weekend, a maritime company has said.
The Solong collided with the anchored tanker Stena Immaculate about 12 miles off the coast of East Yorkshire on 10 March, leaving one man missing, presumed dead. Crowley, which manages the Stena Immaculate, said salvage and recovery operations are moving into the next phase.
Continue reading...Commentary urged CK Hutchison to ‘think twice’ about ‘what position and side they are on’ in sale to US investors
China has criticised the sale of the business that controls ports in Panama to US investors, saying the Hong Kong-based parent company should “think twice” and that the $22.8bn deal is “power politics” that is not in the country’s national interest.
Shares in the Hong Kong-based conglomerate CK Hutchison fell more than 6% on Friday after a critical commentary appeared in the Beijing-backed newspaper Ta Kung Pao in Hong Kong.
Continue reading...Those supporting the deal hope it will raise billions to help poor countries deal with climate breakdown
Brazil has asked the UN to throw out plans for a new levy on global shipping that would raise funds to fight the climate crisis, despite playing host to the next UN climate summit.
The proposed levy on carbon dioxide emissions from shipping will be discussed at a crunch meeting of the International Maritime Organisation (IMO) that begins on Monday. Those supporting the deal, including the UK, the EU and Japan, are hoping the levy will raise billions of dollars a year, which could be used to help poor countries cope with the effects of climate breakdown.
Continue reading...Government plans for publicly funded operator CalMac have been mired in controversy, with replacement vessels delayed and costs spiralling
Almost £100m has been spent over the past decade on repairs for eight of the largest publicly owned ferries in Scotland.
The figure has been described as “eye-watering” by Sue Webber, transport spokesperson for the Scottish Conservatives, who obtained details of the repair bill from ferry operator CalMac.
Continue reading...Two crew members from Ursa Major are missing and 14 have been rescued, Russian foreign ministry says
An engine room explosion sank a Russian cargo ship called Ursa Major in the Mediterranean Sea between Spain and Algeria and two of its crew are missing, the Russian foreign ministry has said.
The vessel, built in 2009, was controlled by Oboronlogistika, a company that is part of the Russian defence ministry’s military construction operations, which had previously said it was en route to the Russian far-eastern port of Vladivostok with two giant port cranes lashed to its deck.
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