Japanese ships transiting through Strait of Hormuz to minimize time in Gulf
The shipping companies said they are closely monitoring the situation and sharing updates with ships operating in the region.
'We are instructing our vessels to shorten their time in the Persian Gulf whenever possible, depending on their schedules,' a Nippon Yusen spokesperson said.
'We will make decisions on each vessel's passage through the Strait of Hormuz on a flexible basis,' he added.
MOL's safety operation supporting center in Tokyo has stepped up 24-hour surveillance, a company spokesperson said.
'We are advising vessels operating in the area to exercise maximum caution and providing them with latest information,' he said, adding that their vessels have also been instructed to minimize the time in the Gulf.
President Donald Trump said the US had 'obliterated' Iran's main nuclear sites in strikes over the weekend, joining an Israeli assault in an escalation of the conflict in the Middle East as Tehran vowed to defend itself.
Iran's Supreme National Security Council must make the final decision on whether to close the Strait of Hormuz, Iran's Press TV said on Sunday, after parliament was reported to have backed the measure.
Iran has long used the threat of closing the Strait, through which around 20 percent of global oil and gas demand flows, as a way to ward off Western pressure which is now at its peak following the US strikes.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Al Arabiya
24 minutes ago
- Al Arabiya
Trump offers regulatory relief for coal, iron ore and chemical industries
President Donald Trump is granting two years of regulatory relief to coal-fired power plants, chemical manufacturers, and other polluting industries as he seeks to reverse Biden-era regulations he considers overly burdensome. Trump issued a series of proclamations late Thursday exempting a range of industries that he calls vital to national security. The proclamations cover coal-fired power plants, taconite iron ore processing facilities used to make steel, and chemical manufacturers that help produce semiconductors and medical device sterilizers. The proclamations allow the facilities to comply with Environmental Protection Agency standards that were in place before rules imposed in recent years by President Joe Biden's administration, the White House said. Trump called the Biden-era rules expensive and, in some cases, unattainable. His actions will ensure that critical industries can continue to operate uninterrupted to support national security without incurring substantial costs, the White House said in a fact sheet. Trump's EPA had earlier exempted dozens of coal-fired plants from air-pollution rules for the same reasons. The EPA also offered other industrial polluters a chance for exemptions from requirements to reduce emissions of toxic chemicals such as mercury, arsenic, and benzene. An electronic mailbox set up by the EPA allowed regulated companies to request a presidential exemption under the Clean Air Act to a host of Biden-era rules. Environmental groups denounced the offer to grant exemptions, calling the new email address a 'polluters portal' that could allow hundreds of companies to evade laws meant to protect the environment and public health. Mercury exposure can cause brain damage, especially in children. Fetuses are vulnerable to birth defects via exposure in a mother's womb. Within weeks of the EPA's offer, industry groups representing hundreds of chemical and petrochemical manufacturers began seeking the blanket exemptions from federal pollution requirements. The Clean Air Act enables the president to temporarily exempt industrial sites from new rules if the technology required to meet them is not widely available and if the continued activity is in the interest of national security. In April, the EPA granted nearly 70 coal-fired power plants a two-year exemption from federal requirements to reduce emissions of toxic chemicals. A list posted on the agency's website lists 47 power providers–which operate at least 66 coal-fired plants–that are receiving exemptions from the Biden-era rules. EPA Administrator Lee Zeldin announced plans in March to roll back dozens of key environmental rules on everything from clean air to clean water and climate change. Zeldin called the planned rollbacks the most consequential day of deregulation in American history. An Associated Press examination of the proposed rollbacks concluded that rules targeted by the EPA could prevent an estimated 30000 deaths and save 275 billion each year they are in effect. The AP review included the agency's own prior assessments as well as a wide range of other research.
Asharq Al-Awsat
an hour ago
- Asharq Al-Awsat
Saudi Leadership Extends Condolences to Iraqi President over Kut Fire Victims
Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud sent on Thursday a message of condolence to Iraqi President Abdul Latif Rashid over the victims of the fire that broke out in a shopping center in Kut city. King Salman extended his warmest condolences and sincerest sympathy to the president, the families of the deceased, and the people of Iraq. Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, sent Rashid a similar cable. The Saudi Ministry of Foreign Affairs had expressed its deep sorrow over the fire, stressing the Kingdom's full support and solidarity with Iraq and its people during this tragedy. The Ministry voiced the Kingdom's sincere condolences and sympathy to the families of the deceased and to the Iraqi government and people, wishing the injured a speedy recovery.
Al Arabiya
an hour ago
- Al Arabiya
Federal Reserve's Waller says central bank should cut rates at next meeting
A top Federal Reserve official said late Thursday that the central bank should cut its key interest rate later this month, carving out a different view than that of Chair Jerome Powell, who has been harshly criticized by the White House for delaying rate cuts. Christopher Waller, a member of the Fed's governing board, said in a speech in New York City that the economy is showing signs of weakening, with consumer spending slowing and job gains cooling. The Fed should reduce borrowing costs to shore up spending and growth before the job market weakens further, Waller said. The economy is still growing, but its momentum has slowed significantly, he said, adding that the slowdown threatens the Fed's goal of maximum employment. At the same time, President Donald Trump's sweeping tariffs are likely to only lift inflation temporarily and aren't a reason to postpone rate cuts, Waller said. Tariffs have boosted and will continue to boost inflation a bit above the (Fed's) 2 percent objective this year, Waller said, but policymakers should look through tariff effects and focus on underlying inflation, which he said is nearing the 2 percent goal. Waller has been mentioned as a potential replacement for Powell when the current chair's term expires in May 2026, or perhaps earlier if Trump takes the unprecedented step of firing Powell. Trump has threatened to fire Powell this year but on Wednesday said it was highly unlikely he would take such a step. For his part, Powell has said the Fed wants to see the impact of the duties on prices and the economy before making any moves. Waller, a Trump appointee, has previously said that he would support a rate cut in July. Michelle Bowman, also a Trump appointee, has also spoken in favor of a cut. Minutes to the Fed's June 17-18 meeting said that only a couple of the 19 members of the central bank's interest-rate setting committee supported a cut in July. Other participants – the minutes didn't say how many – said that the Fed should keep rates unchanged this year since inflation remains above 2 percent. Consumer prices rose 2.7 percent in June from a year ago, the fastest pace in four months. Other potential replacements for Powell have also publicly expressed support for cutting rates soon, including Kevin Warsh, a former member of the Fed's board who stepped down in 2011. Warsh, currently a fellow at the Hoover Institution, said on Fox News Sunday Morning Futures earlier this week that he supported rate cuts. 'The president's right to be frustrated with Jay Powell and the Federal Reserve,' Warsh said.
