Latest news with #AnoopSingh
Business Recorder
12 hours ago
- Business
- Business Recorder
Middle East conflict slows tanker bookings, lifts rates
SINGAPORE: The costs of chartering tankers to move oil from the Middle East to Asia have climbed and ship bookings have slowed as the Israel-Iran conflict fuels worries of potential disruptions, industry sources told Reuters on Monday. The global benchmark rate for a very large crude carrier (VLCC) moving oil from the Middle East Gulf (MEG) to Japan, known as TD3, rose over 20% on Friday after the tensions broke out, according to LSEG data. On Monday, the MEG-Japan rate for crude held steady at about W55 on the Worldscale industry measure, according to a shipbroker. However, further gains in freight rates were limited as traders, shipbrokers and charterers take a wait-and-watch stance even as market participants said they did not expect the Strait of Hormuz, a key shipping passage, to be shut. 'Fixing on Friday from the region all but came to a standstill. Physical marks may therefore not be indicative. Ships inside the gulf are still looking for outbound charters,' said Anoop Singh, global head of shipping research at Oil Brokerage. 'But the situation remains dynamic, and we expect to hear more on market open today,' said Singh. Oil prices volatile as Israel-Iran conflict ramps up 'We have noted a minor increase in freight rates so far, but expect them to rise further as the week progresses,' according to Sentosa Shipbrokers. Emril Jamil, senior analyst for crude and fuel oil at LSEG Oil Research, said freight rates will depend on any continued escalation and potential action by Iran on the Strait of Hormuz. About 18 million to 19 million barrels per day of oil and oil products flow through the waterway, which connects the Gulf to the Gulf of Oman. 'The war risk premium is expected to remain high in the near-term given the continued exchange of tensions between the two countries. This will exponentially rise if other Middle East oil and gas infrastructure are attacked,' said Jamil. He added that cargo insurance premiums could range from an additional $3 to $8 a barrel if there are further attacks. For clean products, freight rates to ship around 90,000 tons of either gasoline, diesel or jet fuel from the Middle East to markets west of the Suez Canal were at $3.3 million to $3.5 million late last week, before the conflict, according to estimates from three shipping sources, but new offer levels have yet to emerge. Some brokers are already giving market indications at $4.5 million levels, according to one Singapore-based trade source. Several shipowners are holding back offering vessels for routes in the Gulf until the situation becomes more clear, which may increase opportunities for voyages from the Far East to the west of Suez and from northwest India, Sentosa shipbrokers said in a note to clients.
Reuters
14 hours ago
- Business
- Reuters
Middle East conflict slows tanker bookings, lifts rates
SINGAPORE, June 16 (Reuters) - The costs of chartering tankers to move oil from the Middle East to Asia have climbed and ship bookings have slowed as the Israel-Iran conflict fuels worries of potential disruptions, industry sources told Reuters on Monday. The global benchmark rate for a very large crude carrier (VLCC) moving oil from the Middle East Gulf (MEG) to Japan, known as TD3, rose over 20% on Friday after the tensions broke out, according to LSEG data. On Monday, the MEG-Japan rate for crude held steady at about W55 on the Worldscale industry measure, according to a shipbroker. However, further gains in freight rates were limited as traders, shipbrokers and charterers take a wait-and-watch stance even as market participants said they did not expect the Strait of Hormuz, a key shipping passage, to be shut. "Fixing on Friday from the region all but came to a standstill. Physical marks may therefore not be indicative. Ships inside the gulf are still looking for outbound charters," said Anoop Singh, global head of shipping research at Oil Brokerage. "But the situation remains dynamic, and we expect to hear more on market open today," said Singh. "We have noted a minor increase in freight rates so far, but expect them to rise further as the week progresses," according to Sentosa Shipbrokers. Emril Jamil, senior analyst for crude and fuel oil at LSEG Oil Research, said freight rates will depend on any continued escalation and potential action by Iran on the Strait of Hormuz. About 18 million to 19 million barrels per day of oil and oil products flow through the waterway, which connects the Gulf to the Gulf of Oman. "The war risk premium is expected to remain high in the near-term given the continued exchange of tensions between the two countries. This will exponentially rise if other Middle East oil and gas infrastructure are attacked," said Jamil. He added that cargo insurance premiums could range from an additional $3 to $8 a barrel if there are further attacks. For clean products, freight rates to ship around 90,000 tons of either gasoline, diesel or jet fuel from the Middle East to markets west of the Suez Canal were at $3.3 million to $3.5 million late last week, before the conflict, according to estimates from three shipping sources, but new offer levels have yet to emerge. Some brokers are already giving market indications at $4.5 million levels, according to one Singapore-based trade source. Several shipowners are holding back offering vessels for routes in the Gulf until the situation becomes more clear, which may increase opportunities for voyages from the Far East to the west of Suez and from northwest India, Sentosa shipbrokers said in a note to clients.
Yahoo
3 days ago
- Business
- Yahoo
Oil tanker market roiled by Israeli airstrikes against Iran
(Bloomberg) — Israel's overnight airstrikes on Iran drove up freight rates and tanker stocks Friday as traders and investors priced in the prospect of disruption to a large swath of the global oil-shipping fleet. Shuttered NY College Has Alumni Fighting Over Its Future Trump's Military Parade Has Washington Bracing for Tanks and Weaponry NYC Renters Brace for Price Hikes After Broker-Fee Ban Do World's Fairs Still Matter? NY Long Island Rail Service Resumes After Grand Central Fire Forward freight agreements for July — bets on the future cost of moving Middle East crude to Asia — jumped 15% to $12.83 a metric ton, according to data from brokerage Marex Group Plc. Tanker stocks surged, with one of the world's top owners saying it was more wary of leasing out its vessels in the region. Israel struck targets across Iran early Friday, including nuclear and military facilities. The operation marked a significant escalation in the standoff between the two adversaries, with Tehran vowing its foe will 'pay a very heavy price.' 'For now, this is a risk premium — owners will hold back from putting ships into the Gulf on a business-as-usual basis,' said Anoop Singh, global head of shipping research at Oil Brokerage Ltd. 'A threat of war in the Middle East is material to freight rates.' The attacks have revived longstanding concerns in the oil and shipping markets that Iran could try to shut the Strait of Hormuz, an unavoidable chokepoint for a large chunk of the world's petroleum. Tehran has made multiple threats to shut the waterway over the years, even if there are good reasons to believe it wouldn't do so for any long period of time. That doesn't preclude harassment of commercial shipping controlled by Iran's rivals, making voyages more fraught and owners more wary — a tactic Tehran has deployed in the past. Read, July 2019: A Giant Tanker's Fraught Journey Through Hormuz Tokyo-based shipping companies Nippon Yusen KK, Mitsui OSK Lines Ltd. (MTSFY, 8031.T, 9104.T) and Kawasaki Kisen Kaisha Ltd. (9107.T, KAIKY, KAKKF) were among the first to instruct vessels to exercise caution after the overnight strikes. Among Asian stocks, Cosco Shipping Holdings Co. and China Merchants Energy Shipping Co. ( rose more than 5% on Friday. In Europe, Frontline Plc jumped as much as 7.9% in Oslo. 'We are far more hesitant' about offering vessels for charter from the Middle East, said Lars Barstad, chief executive officer of the company that manages Frontline's fleet. Other people involved in the market reported a large number of vessel owners declining to offer their vessels for hire while they evaluate the situation. Before the attacks, the UK Navy had warned that any escalation could affect shipping, including in the Strait of Hormuz, through which much of the world's seaborne oil and gas flows. The UKMTO, which acts as a liaison between the navy and commercial vessels, rarely puts out general warnings such as this. Similarly, the Joint Maritime Information Center, an information-sharing hub that comes under the Combined Maritime Forces, warned of heightened risks from the hostilities, including the possible use of missiles around chokepoints. Barstad said that during past flare-ups, shipping had been organized into 'flotillas' that move through Hormuz under naval escort to keep them safe. But such a measure is very inefficient — and hence bullish for freight — because tankers are forced to wait to transit rather than moving freely, he said. Blocking Hormuz, the entry and exit point for tankers picking up cargoes from key oil producers in Saudi Arabia, the United Arab Emirates, Kuwait — and even Iran itself — is seen as an extreme option. The country's oil-consuming allies need the waterway to function normally. While a closure is possible, it's unlikely that such an act would be long-lasting, Barstad said. At least 10% of the global very-large crude carrier fleet are in the Middle East Gulf at any given time, with about 20 vessels transiting the Strait of Hormuz each day. Barstad, speaking early Friday, said that the market would take its cue from the premiums that war-risk insurers charge once those become apparent. There are ways in which disruption could actually prove bearish for tanker markets. A surge in oil prices that erodes demand wouldn't be helpful, and nor would a long-lasting restriction in Middle East crude cargoes. Still, the strikes will help ancillary services that provide safety of passage for ships through the region, said Jayendu Krishna, a director at Drewry Maritime Services. Bulk carrier rates may also benefit: The Middle East contributes more than 10% of the global dry-bulk trade, which handles unpackaged commodities such as ores and minerals, he said. 'Additional war-risk premium will suddenly shoot up, to and from the Middle East,' Krishna said. 'It takes time to recalibrate the supply chain.' —With assistance from Tsuyoshi Inajima, Reina Sasaki, Grant Smith and Natsuko Katsuki. (Updates with Marex data in second paragraph.) American Mid: Hampton Inn's Good-Enough Formula for World Domination The Spying Scandal Rocking the World of HR Software New Grads Join Worst Entry-Level Job Market in Years US Tariffs Threaten to Derail Vietnam's Historic Industrial Boom As Companies Abandon Climate Pledges, Is There a Silver Lining? ©2025 Bloomberg L.P. By subscribing, you are agreeing to Yahoo's Terms and Privacy Policy Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
News18
13-05-2025
- Entertainment
- News18
Palak Tiwari, Anoop Singh Exclusive: On Romeo S3, Indo-Pak War, Met Gala, Shweta Tiwari
Palak Tiwari and Anoop Singh are gearing up for the release of their film, Romeo S3, directed by Guddu Dhanoa on May 16. In an exclusive conversation with CNN-News18 Showsha's Titas Chowdhury, the trio speaks about their film and Operation Sindoor. Palak lauds Diljit Dosanjh's 'maharaja' look at MET Gala and talks about the time when she bought her 'very simple' mother, Shweta Tiwari, her first designer bag. The veteran filmmaker, on the other hand, shares how being Dharmendra's first cousin helped him in Bollywood and recalls launching Shah Rukh Khan and Diljit's acting careers. bollywood news | entertainment news live | latest bollywood news | bollywood | news18 | n18oc_moviesLiked the video? Please press the thumbs up icon and leave a comment. Subscribe to Showsha YouTube channel and never miss a video: / showshaindia Follow Showsha on Instagram: / showsha_ Follow Showsha on Facebook: / showsha Follow Showsha on X: Showsha on Snapchat: / 6yeotzey More entertainment and lifestyle news and updates on:
Hans India
24-04-2025
- Politics
- Hans India
Ex-Colonel slams Owaisi's remark: Easy to blame intelligence agencies for political gains
Lucknow: Reacting to AIMIM president Asaduddin Owaisi's remarks on the Pahalgam terror attack, Ex-Colonel Anoop Singh on Wednesday criticised the political leader for blaming intelligence agencies and said such comments are often made to serve political agendas. Owaisi had described the attack -- which claimed the lives of 26 civilians -- as more painful and condemnable than the incidents in Uri and Pulwama. He held the Narendra Modi government accountable, calling it a major intelligence failure. In response, Anoop Singh told IANS, 'It's easy for political leaders to question intelligence agencies. They often make such statements to serve their own political interests, without understanding the challenges faced by our forces.' He added, 'It's not right to comment on intelligence without full knowledge. These agencies work in extremely difficult conditions. It's wrong to immediately blame them or the government. The focus should be on unity and support, not finger-pointing.' Calling the incident a national tragedy, Singh said, 'It's a massive loss, especially for the families of the victims. It's emotionally devastating for them, the J&K government, and the security forces. What matters now is how we respond. As an Army officer, I refrain from making communal remarks -- we're trained to rise above such divisions.' Expressing faith in the nation's resilience, Singh said, 'India is a diverse country, strong in its unity. Be it music, language, or culture, we stand together. What happened in Pahalgam is heartbreaking, and the entire country feels that pain.' Responding to questions about peace in Jammu and Kashmir post-Article 370, he said, 'Look at the tourism numbers and the elections held since then. The situation is being handled well, and people have trust in the government. That, in itself, is proof of progress and peace.' Meanwhile, security forces have identified three suspects -- Asif Fuji, Suleman Shah, and Abu Talha -- believed to be affiliated with The Resistance Front (TRF), an offshoot of the banned Lashkar-e-Taiba. The attackers were reportedly Pakistani nationals, aided by locals. They used military-grade weapons, body cameras, and advanced communications gear. Digital footprints traced to Muzaffarabad and Karachi further suggest cross-border involvement. A massive anti-terror operation is underway, with helicopters deployed to locate the perpetrators hiding in the surrounding forests.
