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13.09.26 - 17:12
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UAE Meets With Iran Leaders As Tehran Teases Oman Shipping Deal (ZeroHedge)
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UAE Meets With Iran Leaders As Tehran Teases Oman Shipping Deal
Encouraging diplomatic signals emerged from the Gulf area this weekend as Abu Dhabi's crown prince met Iran's president amid efforts to secure a deal allowing more vessel transits through the highly contested Strait of Hormuz. However, the hopeful signs of de-escalation were overshadowed by days of mounting threats to alternative export routes, with Iran-backed Houthis capturing a strategic island inside another maritime chokepoint in the southern Red Sea and drone attacks shutting Saudi Arabia's East-West pipeline.
Bloomberg cites the UAE's state-run WAM news agency, which reported Sunday that Sheik Khaled bin Mohamed Al Nahyan and President Masoud Pezeshkian discussed de-escalation plans on the sidelines of the BRICS summit in India. The meeting comes as Oman seeks broader de-escalation by bringing Iran and Gulf Cooperation Council members together to discuss shipping access to the Hormuz chokepoint.
Pezeshkian has called fo...
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13.09.26 - 00:42
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Trump: Houthis ′Don′t Want′ US In Yemen - So They′re Letting Most Red Sea Shipping Through (ZeroHedge)
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Trump: Houthis 'Don't Want' US In Yemen - So They're Letting Most Red Sea Shipping Through
After it was widely reported this week that Saudi Crown Prince Mohammed bin Salman urgently sought military assistance from President Donald Trump amid the rapid Houthi takeover of Yemen's Red Sea coast from the forces of the internationally recognized Sanaa government, Trump has said the Houthis are in contact with him and have pledged to let ships through the Bab Al-Mandab Strait.
Trump is currently in Ireland. He said to reporters Saturday while meeting with Irish Prime Minister Micheal Martin, "The Houthis called us, and they don't want to fight with us. They don't want us to go after them."
He further explained that "they would much prefer not having us involved:" and so "they are letting most ships go through." The president did acknowledged they do have a ban on Saudi vessels, however.
Trump: "The Houthis called us. They don't want to fight with us....
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11.09.26 - 04:39
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Oil Tanker Rates Hit Record Highs as Middle East Shipping Risks Soar (ZeroHedge)
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Oil Tanker Rates Hit Record Highs as Middle East Shipping Risks Soar
By Tsvetana Paraskova of OilPrice.com
Oil tanker rates have jumped to record highs as escalating risks to shipping in and out of the Middle East are prompting traders and tanker operators to undertake inefficient and more expensive trade routes.
While the crude oil supply is actually there, shipping it through the Strait of Hormuz remains a very risky endeavor, especially in light of the escalating U.S.-Iran tanker war in the Persian Gulf and the Gulf of Oman, while Saudi Arabia has started to move crude cargoes out of the region through the north of the Red Sea and from Egypt's Mediterranean ports.
The much longer workarounds are tying tankers and supertankers for longer with the shippers, tightening the market of available vessels so much that rates are skyrocketing to all-time highs.
For example, the benchmark daily rate for a very large crude carrier (VLCC) to ship oil from the Middle East to China has hit a record hig...
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09.09.26 - 17:12
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US Sanctions Dozens Of Iranian Airlines As Tehran-Favored Mahan Air Defiant, Expands Flights (ZeroHedge)
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US Sanctions Dozens Of Iranian Airlines As Tehran-Favored Mahan Air Defiant, Expands Flights
As part of the latest in the Trump-Bessent "asphyxiation of this regime" approach to Iran after six months of military action failed to accomplish most White House aims, the Trump administration on Tuesday announced it is sanctioning all Iranian airlines in a massive aviation crackdown.
The Treasury statement listed 27 Iranian air carriers and nine entities as part of an effort to deny the Iranian government the ability to move "weapons, personnel, and illicit cargo".
via IRNA
"Let this be a warning to anyone doing business with Iran's remaining airlines, all of which we sanctioned today: You are at risk of being cut off from the global financial system," Bessent said.
On the list is Ava Airlines, Fly Persia, and Mehr Airways - and others, after the US first sanctioned Mahan Air in 2011, which was the first such instance of Washington sanctioning an Iranian commercial a...
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