Tag: Strait of Hormuz

Iran's President, Hassan Rouhani hinted that his country might be willing to release the British-flagged oil tanker 'Stena Impero' it seized, if UK releases the detained Iranian tanker, Grace 1, which was seized off Gibraltar. Hassan Rouhani said during a speech in the weekly cabinet session, that Iran does not want to continue tense relationships with Europe.

Following the increasing tensions in the Strait of Hormuz and the fear of vessels being seized, the UK government decided that the Royal Navy will accompany British-flagged vessels sailing there. Thus, the Ministry tweeted a video with the first footage of military-escorted convoy in the area.

The International Bargaining Forum has started discussions on vessels transiting through the Gulf of Oman and the Strait of Hormuz. The discussions follow 10 weeks of increased aggression against merchant ships in the area, which peaked with the seizure of the Stena Impero on 19 July.

The UK Government announced that the Royal Navy will escort British-flagged vessels when sailing though the Strait of Hormuz in support of free navigation, after noting that they didn't have the resources to do so in the past. 

Bahri, the Saudi-based transportation giant, experienced a decreased net income to SR224.9 million in the first half of 2019, affected by the shipping crisis in the region. CEO, Abdullah Aldubaikhi commented that 'The financial results achieved for the first half of 2019 reflect the difficulties that the region is going through, which impacted the whole maritime shipping industry.'

A proposed European initiative to bolster maritime security in the Persian Gulf would only complement ongoing US efforts instead of being a 'stand-alone' operation, the top US general said. This comes as UK proposed a plan earlier this week for a European-led naval mission to ensure security in Strait of Hormuz.

As Bloomberg reports, the US sanctions against Iran and Abu Dhabi's competition are having a negative impact at DP World Plc's ports in Dubai, who are seeing a less cargo volumes for a fifth year in a row. Drewry focuses on the fact that the Dubai's container volumes have also been affected by the restrictions on cargo shipments to Qatar because of an embargo by the UAE and additional Arab nations.

Stena Bulk confirms that they communicated with the crew of the Iranian-seized Stena Impero. This follows the company's decision on asking permission from the Iranian authorities to visit the crew members. 

France, Italy and Denmark are supporting an UK plan for a European-led naval mission to ensure safe transits through the Strait of Hormuz, after Iran seized a British-flagged tanker, according to three senior EU diplomats. Except for this idea, British foreign ministry and defense officials have also discussed about a possible mission, which would involve not just ships but aircrafts too.

The tensions in the Strait of Hormuz, following Iran seizing the British-flagged Stena Impero, are in the spotlight as the whole shipping industry waits for any updates on the situation. The Greek Ministry of Foreign Affairs published a statement, highlighting the importance of the immediate release of the crewmembers and the continuation of the seized vessel's journey.