Caught in the crossfire – story of a shipmaster in the Strait of Hormuz

A fascinating interview by Nautilus with a tanker captain about transiting the Strait of Hormuz, a “stressful” and “scary” experience. One of the issues that leaps from the page is the risk to crews – and how poorly compensated they are for that. Shipping lines may be introducing war-risk surcharges, but crews are certainly not seeing any extra ‘danger’ money. Nor have they been asked whether they want to continue onboard. But, …

The post Caught in the crossfire – story of a shipmaster in the...

https://theloadstar.com/caught-in-the-crossfire-story-of-a-shipmaster-in-the-strait-of-hormuz/

Shippers hit by soaring insurance costs for cargo crossing the Persian Gulf

CMA CGM, is to implement a war-risk surcharge (WRS) for cargo to and from ports in the Persian Gulf, as insurance underwriters hike premiums for ships transiting this ‘tinderbox’ region.
Since the attack on two tankers on 13 June, the fifth and sixth in a month and the most serious to date, war-risk premiums have soared for the region, one broker source telling The Loadstar today supertankers are being charged a …

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https://theloadstar.com/shippers-hit-by-soaring-insurance-costs-for-cargo-crossing-the-persian-gulf/

Oil price spike threat after two more tankers are attacked in the Middle East

After two tankers were reportedly hit by torpedo attacks in the Gulf of Oman early this morning, the UK Maritime Trade Operations (UKMTO) Royal Navy agency has issued a warning to shipping, urging “extreme caution” in the area.
The 110,000 dwt Aframax oil tanker Front Altair was en route from the UAE to Taiwan when it was attacked at around 2.30am local time, while the 27,000 dwt product carrier Kokura Courageus, …

The post Oil price spike threat after two more tankers are attacked in the Middle...

https://theloadstar.com/oil-price-spike-threat-after-two-more-tankers-are-attacked-in-the-middle-east/