Latest news with #UnitedKingdomMaritimeTradeOperations
Yahoo
2 hours ago
- Business
- Yahoo
Israel attacks on Iran inflame Mideast shipping tensions
There were no immediate reports of attacks on commercial shipping by Iran after Israel attacked nuclear targets there Thursday. But shipping analysts warned that could change amid rising tensions in the region. As of early Friday vessel traffic was flowing through the Strait of Hormuz between Iran and Oman, the only route out of the Persian Gulf to global shipping lanes. GPS data showed container ships from Taiwan's Wan Hai and CMA CGM of France in the area. United Kingdom Maritime Trade Operations (UKMTO), which monitors Middle East shipping, said increased tensions in the region 'could lead to an escalation of military activity having a direct impact on mariners. Vessels are advised to transit the Arabian Gulf, Gulf of Oman and Straits of Hormuz with caution.' Iran still holds the 14,000-TEU container ship MSC Aries, which it detained in 2024. The air attacks by Israel also killed two high-level Iranian military leaders. Maritime analysts said increasing conflict could lead major container carriers to withdraw services in the straits, as attacks by Yemen-based Houthi rebels did in the Red Sea. 'If this leads to major container lines avoiding transits through the Strait of Hormuz, this will severely impact links to the major container terminal transshipment hubs inside the Persian Gulf such as Jebel Ali [in Dubai] and Port Khalifa [in Abu Dhabi], said analyst Lars Jensen, in a LinkedIn post. 'A ripple effect would be a sharp increase in handlings with a high risk of wider Asian congestion issues.' Iran's state news agency Friday denied reports that it had struck back at Israel with drones. Tehran also accused the United States of aiding Israel's strikes, a charge denied by U.S. Secretary of State Marco Rubio. The attacks by Israel pushed West Texas Intermediate crude oil prices by more than 9%, while crude oil futures rose 13%. Find more articles by Stuart Chirls upheaval tops new shipping concerns surveyHouse investigator Yi to lead Marad Early peak coming as trans-Pacific container rates double Retailers see cargo surge coming The post Israel attacks on Iran inflame Mideast shipping tensions appeared first on FreightWaves.
CNBC
2 days ago
- Business
- CNBC
Oil prices rise more than 4% on escalating Middle East tensions
U.S. crude oil futures rose more than 4% Wednesday on escalating tensions in the Middle East. Brent crude futures rose $2.90, or 4.34%, to close at $69.77 barrel. U.S. West Texas Intermediate crude gained $3.17, or 4.88%, to settle at $68.15. The U.S. is preparing a partial evacuation of its embassy in Iraq due to heightened security risks in the region, sources told Reuters. The U.S. military has authorized the "voluntary departure" of troops' dependents from the Middle East due to rising tensions with Iran, sources told the Associated Press. Meanwhile, United Kingdom Maritime Trade Operations warned of increased tensions in the region that could lead to an "escalation of military activity."
Straits Times
2 days ago
- Business
- Straits Times
Maritime agency warns shipping industry over rising Middle East tensions
LONDON - Increased tensions in the Middle East may lead to an escalation in military activity that could impact shipping in critical waterways, Britain's maritime agency said on Wednesday. Much of the world's oil and key commodities including grains pass through the region's busy sealanes. The United States and Iran are expected to hold talks this week on Iran's nuclear programme. Washington has threatened to take military action if the talks fail, and Iran said on Wednesday it could strike U.S. bases in the region if conflict arises. The United Kingdom Maritime Trade Operations (UKMTO) said in an advisory note on Wednesday that it was aware of increased tensions in the Middle East which could lead to an escalation of military activity having a direct impact on mariners. The UKMTO advised vessels to use caution when passing through the Gulf, the Gulf of Oman and Straits of Hormuz. The UKMTO, which gathers reports on threats to shipping, did not specify the nature of the increase in tensions that prompted its alert. "Israel-affiliated merchant shipping is assessed to be at heightened risk of reciprocal military action," British maritime security company Ambrey said separately on Wednesday. "Substantial U.S. support to Israeli offensive action would raise the risk to U.S. shipping and vessels carrying U.S. cargo." Shipping industry and insurance sources said there was growing concern over a spillover from any action by Israel and its arch foe Iran, especially in waters around the Gulf and nearby waters. Last year, Iran fired hundreds of missiles and drones at Israel, and Israel launched airstrikes on targets inside Iran. "Any attack will have a certain potential to escalate and impact shipping as well as implicate military forces of other countries operating in the area, including the United States," said Jakob Larsen, chief safety & security officer with shipping association BIMCO. "A full-blown armed conflict between Israel/U.S. and Iran would most certainly effectively close the Straits of Hormuz at least for a period of time and drive up oil prices." REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
Straits Times
2 days ago
- Business
- Straits Times
UKMTO warns of possible impact on mariners from increase in Middle East tension
UKMTO warns of possible impact on mariners from increase in Middle East tension DUBAI - The United Kingdom Maritime Trade Operations said in an advisory note on Wednesday that it was aware of increased tensions in the Middle East which could lead to an escalation of military activity having a direct impact on mariners. The UKMTO advised vessels to use caution when passing through the Gulf, the Gulf of Oman and Straits of Hormuz. The UKMTO, which gathers reports on threats to shipping, did not specify the nature of the increase in tensions that prompted its alert. The United States and Iran are expected to hold a round of talks this week on Iran's nuclear programme. Washington has threatened to take military action if the talks fail, and Iran said on Wednesday it could strike US bases in the region if conflict arises. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
Yemen Online
4 days ago
- Yemen Online
Yemen : UKMTO Urges Commercial Ships to Exercise Caution Near Hodeidah Port
Hodeidah – The United Kingdom Maritime Trade Operations (UKMTO) has issued a new security advisory urging commercial vessels to exercise maximum caution while navigating near Hodeidah Port and adjacent waters along Yemen's western coast, amid growing concerns of potential military escalation in the area. The warning follows reports of possible threats linked to military strikes or hostile activity, as regional tensions continue to mount. The Houthi group has been involved in several maritime incidents in recent months, raising alarm over the safety of shipping lanes in the Red Sea. UKMTO advised vessels to carefully assess the risks before transiting the area, emphasizing that ships operating within one kilometer of the shoreline or port facilities may face heightened danger. The Red Sea and Bab al-Mandab Strait are among the world's most critical maritime corridors, with millions of tons of goods and energy supplies passing through annually.
