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Japan Today
17-06-2025
- General
- Japan Today
Two oil tankers collide, catch fire near Strait of Hormuz
By Maha El Dahan and Stine Jacobsen Two oil tankers collided and caught fire on Tuesday near the Strait of Hormuz, where electronic interference has surged during conflict between Iran and Israel, but there were no injuries to crew or spillage reported. With Iran and Israel firing missiles at each other since Friday, interference has disrupted navigation systems near the vital waterway between Iran and Oman which handles about a fifth of the world's seaborne oil. The United Arab Emirates coast guard said it had evacuated 24 people from one of the ships, Adalynn, to the port of Khor Fakkan after the crash 24 nautical miles off its eastern coast. Personnel on the second tanker, the Front Eagle, were reported safe with no pollution seen after a fire on its deck, according to its owner, the Oslo-listed company Frontline. Frontline later told Reuters the incident would be investigated, but there was no suggestion of outside interference. The Front Eagle was loaded with 2 million barrels of Iraqi crude oil and was en route to Zhoushan in China, according to monitoring service The Adalynn, a Suezmax-class tanker owned by India-based Global Shipping Holding Ltd, had no cargo and was sailing towards the Suez Canal in Egypt, the monitoring service said. said on X that the Front Eagle was moving southbound at a speed of 13.1 knots when it "executed a starboard (right) turn, resulting in a collision with the port quarter (aft port side)" of the Adalynn, which was proceeding southeast at 4.8 knots. STRATEGIC STRAIT The Strait of Hormuz links the Gulf to the northwest with the Gulf of Oman to the southeast and the Arabian Sea beyond. Between the start of 2022 and last month, roughly 17.8 million to 20.8 million barrels of crude, condensate and fuels flowed through daily, according to data from Vortexa. The multinational, U.S.-led Combined Maritime Force's JMIC information centre said in an advisory this week that it had received reports of electronic interference stemming from the vicinity of the Iranian port of Bandar Abbas, on the north shore of the strait, and other areas in the Gulf region. Iran has in the past threatened to close the strait to traffic in retaliation for Western pressure. Tehran has not commented on Tuesday's collision or reports of electronic interference. There was no immediate response to a Reuters request for comment from the Emirati foreign ministry or Khor Fakkan container terminal on Tuesday. Dozens of tankers have dropped anchor in major port hubs in the Gulf close to the Strait of Hormuz around Fujairah and Khor Fakkan and Sharjah on the Emirati side, ship tracking data on MarineTraffic showed on Tuesday. Some shipping companies have decided to pause their voyages due to the heightened tensions, while others were awaiting charter hires due to uncertainty, shipping sources said. While war risk insurance costs for ships heading to Israeli ports have soared in recent days, the costs so far remain stable for voyages through the Gulf, insurance industry sources said on Tuesday. "Rates, for the time being, remain stable with no noticeable increases since the latest hostilities between Israel and Iran. This position could change dramatically depending on any further escalation or general conflagration in the area," David Smith, head of marine with insurance broker McGill and Partners, told Reuters. © Thomson Reuters 2025.
Daily Maverick
17-06-2025
- General
- Daily Maverick
Two oil tankers collide and catch fire near Strait of Hormuz
By Maha El Dahan and Stine Jacobsen With Iran and Israel firing missiles at each other since Friday, interference has disrupted navigation systems near the vital sea route between Iran and Oman which handles about a fifth of the world's oil. The United Arab Emirates coast guard said it had evacuated 24 people from one of the ships, Adalynn, to Khor Fakkan port after the crash 24 nautical miles off its eastern coast. Personnel on the second tanker, the Front Eagle, were reported safe with no pollution seen after a fire on its deck, according to its owner, the Oslo-listed company Frontline The Front Eagle was loaded with 2 million barrels of Iraqi crude oil and was en route to Zhoushan in China, according to monitoring service The Adalynn, a Suezmax-class tanker owned by India-based Global Shipping Holding Ltd, had no cargo and was sailing towards the Suez Canal in Egypt, the monitoring service said. said on X that the Front Eagle was moving southbound at a speed of 13.1 knots when it 'executed a starboard (right) turn, resulting in a collision with the port quarter (aft port side)' of the Adalynn, which was proceeding southeast at 4.8 knots. The Strait of Hormuz links the Gulf to the northwest with the Gulf of Oman to the southeast and the Arabian Sea beyond. Between the start of 2022 and last month, roughly 17.8 million to 20.8 million barrels of crude, condensate and fuels flowed through daily, according to data from Vortexa. The multinational, U.S.-led Combined Maritime Force's JMIC information centre said in an advisory this week that it had received reports of electronic interference stemming from the vicinity of Iran's Port of Bandar Abbas (in Iran) and other areas in the Gulf region. Tehran has in the past threatened to close the strait to traffic in retaliation for Western pressure. Iran has not commented about Tuesday's collision or reports of electronic interference. There was no immediate response to a Reuters request for comment from the Emirati foreign ministry or Khor Fakkan container terminal early on Tuesday. (Reporting by Yomna Ehab and Enas Alashray in Cairo, Maha El Dahan in Dubai and Stine B. Jacobsen in Copenhagen; additional reporting by Jonathan Saul in London; Writing by Federico Maccioni; Writing by Federico Maccioni; Editing by Neil Fullick, William Maclean and Andrew Cawthorne)
The Print
10-06-2025
- Politics
- The Print
Explainer-Who are Yemen's Houthis and why are they under attack by Israel?
In the late 1990s, the Houthi family in the far north of Yemen set up a religious revival movement for the Zaydi sect of Shi'ite Islam, which had once ruled Yemen, but whose northern heartland had become impoverished and marginalized. WHAT IS THE HISTORY OF THE HOUTHIS? By Maha El Dahan and Michael Georgy (Reuters) -Yemen's Houthi rebels, who were threatened with an air and naval blockade by Israel on Tuesday, are one of Iran's few allies still standing since the Gaza war spilled across the Middle East. As friction with the government in the capital Sanaa grew, they fought a series of guerrilla wars with the national army and a brief border conflict with Sunni Muslim Saudi Arabia. WHO IS THE HOUTHI LEADER? Abdul Malik al-Houthi created the defiant force challenging world powers from a group of ragtag mountain fighters in sandals. Al-Houthi established a reputation as a fierce battlefield commander before emerging as head of the Houthi movement. Under the direction of al-Houthi, who is in his 40s, the group has grown into an army of tens of thousands of fighters and acquired a huge arsenal of armed drones and ballistic missiles. Saudi Arabia and the West say the arms come from Iran, though Tehran denies this. Al-Houthi is known for rarely staying long in one place, for never meeting the media and for extreme reluctance to make scheduled public appearances. HOW DID THE HOUTHIS COME TO CONTROL MUCH OF YEMEN? A civil war erupted in Yemen in late 2014 when the Houthis seized Sanaa. Worried by the growing influence of Shi'ite Iran along its border, Saudi Arabia led a Western-backed coalition in March 2015, which intervened in support of the Saudi-backed government. The Houthis established control over much of the north and other large population centres, while the internationally recognised government based itself in the port city of Aden. Yemen enjoyed a period of relative calm amid a U.N.-led peace push, but a sharp escalation in regional tensions since the start of the Gaza war has increased risks of a new conflict between the militia and Riyadh. WHY ATTACK SHIPS? The Houthis have waded into the Gaza conflict with attacks on shipping routes in the Red Sea as a show of support for the Palestinians and Hamas, the Islamist group that controls Gaza. They have also claimed attacks on ships they say are linked to Israel in the Gulf of Aden, the Arabian Sea, the Indian Ocean and the Mediterranean Sea. The Houthi attacks have disrupted global shipping, forcing firms to re-route to longer and more expensive journeys around southern Africa. While the militia has said it attacked only vessels with links to Israel, the United States and Britain, shipping industry sources have said all ships were at risk. The U.S. and Britain had retaliated with air strikes against the Houthis as part of international efforts to restore the free flow of trade along a key route between Europe and Asia that accounts for about 15% of the world's shipping traffic. A period of relative calm started in January alongside the Gaza ceasefire but the group then warned in March it would resume its naval operations if Israel did not lift a blockage of aid into Gaza. The Houthis then announced on March 12 a resumption of attacks with immediate effect. In May, President Donald Trump declared the U.S. would stop bombing the Houthis in Yemen, saying that the group had agreed to halt interrupting important shipping lanes in the Middle East. After Trump made the announcement, Oman said it had mediated the ceasefire deal, marking a major shift in Houthi policy since the start of Israel's war in Gaza in October 2023. WHAT ARE THE HOUTHIS' LINKS WITH IRAN? The Houthis are part of what has been called the 'Axis of Resistance' – an anti-Israel and anti-Western alliance of regional militias including Hamas, Hezbollah, the Houthis and armed groups in Iraq, backed by Iran. The Houthis' slogan is 'Death to America, Death to Israel, curse the Jews and victory to Islam'. The Saudi-led coalition accuses Tehran of arming and training the Houthis, a charge both deny. The coalition also says Lebanon's Iran-backed Hezbollah is helping the Houthis, an accusation it rejects. While Iran champions the Houthis, the Houthis deny being puppets of Iran, and Yemen experts say they are motivated primarily by a domestic agenda. (Editing by Peter Graff, Lincoln Feast, William Maclean) Disclaimer: This report is auto generated from the Reuters news service. ThePrint holds no responsibility for its content.
Yahoo
08-05-2025
- Business
- Yahoo
Saudi Arabia sits on fence over BRICS with eye on vital ties with US
By Pesha Magid, Maha El Dahan and Manya Saini RIYADH/DUBAI (Reuters) - Saudi Arabia has held off formally joining the BRICS bloc of nations despite attending a meeting in Brazil last week, two sources said, finessing an issue that could upset Washington as Riyadh seeks to seal deals with its U.S. ally. The issue of BRICS membership has been diplomatically sensitive for Saudi Arabia since it was first invited to join in 2023, and remains so with President Donald Trump due to visit next week and Riyadh negotiating nuclear and technology deals. BRICS, founded as a grouping of Brazil, Russia, India, China and South Africa to counter Western dominance of the world order, has grown in recent years to include emerging economies such as the United Arab Emirates, Egypt and Indonesia. But while the BRICS website shows Saudi Arabia - the world's largest oil exporter - as a member, it has yet to join, according to the two sources, both with direct knowledge of Saudi policy. Saudi Arabia's government communications office did not immediately respond to a request for comment. Brazil's foreign ministry referred Reuters to the Saudi government when asked about the kingdom's listed status as a member on the website. Brazil is currently presiding over BRICS. Riyadh does not want to risk U.S. anger as negotiations are underway with Washington, one of the sources and a diplomat said. Saudi Arabia sent its deputy foreign minister to the April 29 meeting in Rio de Janeiro, where ministers from the fast-expanding bloc failed to agree a joint communique. The kingdom's ambivalence about BRICS membership lays bare its high-stakes balancing act between China, its biggest oil export customer, and Washington, its indispensable security and technology partner - a tightrope walk made ever more precarious by the deepening U.S.-Chinese divide. "The Saudis still see tons of value in engaging with BRICS and its member states. They will keep double-dipping – or multi-dipping – with global partnerships as long as they can," said Robert Mogielnicki, senior resident scholar at the Arab Gulf States Institute in Washington. "I think the Saudi calculation is that what they may be able to get out of the U.S. outweighs what they could get from BRICS membership, at least over the short term.' In January, Trump demanded that BRICS commit to not creating a new currency or supporting another currency that would replace the U.S. dollar, or face 100% tariffs against BRICS nations. SEEKING ALLIES While the kingdom still favors its historic ally the United States, it is also seeking to nurture trade ties with China, the largest importer of Saudi crude. In February, Saudi Arabia exported goods worth 15.2 billion riyals ($4.05 billion) to China, marking a 20.6% increase from a year earlier, when trade amounted to 12.6 billion riyals, data from the Observatory of Economic Complexity show. Over the past five years, trade has grown at an annualised rate of 50.3%. Total Chinese investment and construction contracts in Saudi Arabia between 2005 and mid-2024 reached nearly $71 billion, according to the China Global Investment Tracker, reflecting Beijing's growing role in the kingdom's economic transformation. The Saudi partnership with the United States remains central to its security, investment and technology ambitions, even as it expands relations with rival powers like China and Russia. The U.S. is poised to offer Saudi Arabia an arms package worth well over $100 billion, sources told Reuters last month, saying the proposal was being lined up for announcement during Trump's visit. BRICS has sought to shift away from the dollar into other currencies. But a study by the Atlantic Council's GeoEconomics Center last year showed the greenback remains the world's primary reserve currency, and neither the euro nor the BRICS countries have managed to reduce global reliance on the dollar. "While BRICS is a useful forum for airing grievances over American behaviour, it is not yet a body coherent enough to provide public goods on key issues like currency cooperation, security, or economic integration," said Steffen Hertog, associate professor in comparative politics at the London School of Economics. "Saudi feels like they have the leverage and they are enjoying the position," said Saudi analyst Aziz Alghashian. "They see it that the United States is still the main actor, but there are others that could also provide utility," he added. ($1 = 3.7509 riyals)
Zawya
07-05-2025
- Business
- Zawya
Iraq boosts condensate production amid gas capture efforts, statement says
Iraq's Deputy Prime Minister for Energy Affairs and Minister of Oil announced in a statement that the country has seen an increase in natural gas production and associated gas capture projects. These initiatives, aimed at reducing flaring and meeting local demand, have led to the availability of large volumes of condensates, reaching approximately 160,000 barrels per day, said an Iraqi oil ministry statement on Wednesday. Condensate, an ultra-light oil, is primarily processed at splitters to produce petrochemical feedstock naphtha or used as a diluent for heavy crude. According to the statement, most of the condensates produced are blended with crude oil to enhance their specifications. The increase in condensate production marks a notable step in Iraq's efforts to optimize its energy resources and reduce environmental impact through improved gas capture and utilisation. (Reporting by Maha El Dahan; Writing by Ahmed Rasheed; Editing by Vijay Kishore)
