The Business Times

oil tankers

International

Saudi Arabia races to reroute oil as Gulf storage fills up fast

With Hormuz effectively blocked, storage tanks are filling up at refineries and oil fields across the Persian Gulf

Saudi Aramco aims to avert cutting production by rerouting some supplies to the Red Sea port of Yanbu.
Energy & Commodities

Saudi Arabia tries to divert oil to Red Sea amid Iran war, faces reluctant shippers

The Red Sea holds a risk of attacks from Iranian allies in Yemen

Prices have surged more than 10% since the US and Israel launched attacks on Iran over the weekend.
International

Trump says US will escort, insure oil tankers amid Iran war

The administration is also seeking to address high prices for consumers as petrol prices at the pump have already jumped to the highest levels in five months

A file photo of an oil tanker passing through the Strait of Hormuz. Industry experts warned that an extended closure of the Strait of Hormuz would cause oil prices to soar.
Transport & Logistics

About 10% of global container fleet caught in Hormuz backup, shipping CEO says

[LONG BEACH, California] Container ships account for roughly 100 of the 750 ships ensnared in the Strait of Hormuz backups following US and Israeli attacks on Iran, Jeremy Nixon, CEO of container carr...

Earnings on the industry’s benchmark route have climbed to US$424,000 a day, according to data from the Baltic Exchange in London.
Transport & Logistics

Oil supertanker rates soar to record on Middle East conflict

The cost for booking a tanker from the US Gulf Coast to China also hit a record

Some 20% of global oil, including from producers Saudi Arabia, the United Arab Emirates, Iraq, Kuwait and Iran, passes through Hormuz along with large volumes of LNG from Qatar.
Global Enterprise

Oil and gas majors and traders suspend shipments via Hormuz: sources

Vessel traffic through the strait has not completely stopped but disruptions are building rapidly

A patrol boat inspected the tankers for anchoring without permission and carrying out illegal ship-to-ship transfer activities.
International

Malaysia seizes US$129.9 million in crude oil from tankers suspected of illegally transferring oil

The waters off Malaysia are known as a regular site for illegal ship-to-ship transfers

The US military’s Southern Command, which is overseeing nearly a dozen warships and thousands of troops in the Caribbean, said in a statement it apprehended the vessel Sagitta “without incident.”
Transport & Logistics

US military seizes another Venezuela-linked tanker in the Caribbean

[WASHINGTON] The US military said it seized a Venezuela-linked tanker on Tuesday in the Caribbean, marking the seventh such apprehension since the start of US President Donald Trump’s month-long campa...

For shipowners, that means higher rates on some routes as current and future oil flows are redirected, with Washington starting to ease sanctions on Venezuela.
Transport & Logistics

Oil tanker rates spike as US push into Venezuela redraws flows

The global oil industry is working through the consequences of Washington’s move earlier this month

China last year was the first destination of Venezuela’s oil with some 642,000 bpd exported.
International

Supertankers sailing to pick up Venezuelan oil for China make U-turns, ship data shows

[HOUSTON] Two China-flagged supertankers that were sailing to Venezuela to pick up debt-paying crude cargoes made U-turns and were headed back to Asia, LSEG shipping data showed on Monday, a sign that...

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