Strait of Hormuz News

Ship Insurers Primed to Raise Rates After Red Sea Attacks

LONDON — Insurers are set to raise the cost of providing cover for merchant ships through the Red Sea after a series of incidents that have hit vessels around Saudi Arabian waters, industry sources said. The possibility of more attacks …

South Korean Tanker was Boarded by Armed Iran Guard Forces

SEOUL (AP) — Armed Iranian Revolutionary Guard troops stormed a South Korean tanker and forced the ship to change course and travel to Iran, the vessel’s owner said Tuesday, the latest maritime seizure by Tehran amid heightened tensions with the …

Gulf Tanker Incidents May Raise Shippers’ Costs, Cut Traffic

Seizures of oil tankers and other hostile Iranian measures in the Strait of Hormuz are already raising insurance rates for shipping companies and could eventually reduce tanker traffic in the vital waterway, with a spike in global oil prices a …

Seeking to Avoid Escalation, Ships Deploy Unarmed Guards to Navigate Gulf

LONDON — Shipping companies are hiring unarmed security guards for voyages through the Middle East Gulf as an extra safeguard after a wave of attacks in the region, security companies involved said. Relations between Iran and the West are increasingly …

Airlines Avoid Strait of Hormuz After Iran-U.S. Tensions Escalate

Airlines worldwide are diverting flights away from southern Iran, lengthening travel times, after the Federal Aviation Administration issued an edict barring American operators from the region amid escalating tensions with the Persian Gulf country. Deutsche Lufthansa AG, Dutch carrier KLM …

Oil Tanker Insurance Costs to Jump After Gulf Attacks

Oil tanker owners are turning increasingly nervous about loading cargoes from the world’s largest export region for crude after the latest round of attacks on vessels. Both owners and the companies that charter their ships paused bookings on Thursday as …

Insurer Says Iran’s Revolutionary Guards Likely Organized Tanker Attack

LONDON/OSLO — Iran’s elite Revolutionary Guards (IRGC) are “highly likely” to have facilitated attacks last Sunday on four tankers including two Saudi ships off Fujairah in the United Arab Emirates, according to a Norwegian insurers’ report seen by Reuters. The …

Saudi Arabia Says its Oil Tankers Among those Hit Off UAE Coast

DUBAI/LONDON — Saudi Arabia said on Monday that two of its oil tankers were among those attacked off the coast of the United Arab Emirates and described it as an attempt to undermine the security of crude supplies amid tensions …