August 16th, 20190Gibraltar decided yesterday to free the VLCC, but as of Friday morning the Iranian tanker had yet to leave the UK territory. The Gibraltar decision came as the US launched a last-minute legal bid to hold the tanker. The Grace 1 was seized by British armed forces on July 4 on suspicion of violating European Union sanctions by taking...
August 15th, 20190The , a VLCC that sparked huge geopolitical tension in the Middle East over the past six weeks, is being widely tipped to leave Gibraltar waters today. It is understood that the authorities in the British territory have had assurances from the ship’s master that the vessel will not head for sanctions-hit Syria, the reason why...
August 13th, 20190Ferguson Marine Engineering, the last civilian shipyard on the Clyde river, could be nationalised, Derek Mackay, Scotlands’s finance and economy secretary, said yesterday. Management at the shipbuilder announced plans last week to put the company into administration, days after Harland and Wolff from Northern Ireland had done a...
August 8th, 20190James Fisher and Sons has acquired a 60% stake in Continental Participação E Administração, the holding company of Brazilian subsea specialist Serviços Marítimos Continental. Continental is an air diving service provider to the offshore sector in Brazil, providing inspection, repair and maintenance services. James Fisher is...
August 7th, 20192The United Kingdom cannot use the Strait of Hormuz for as long as Iran is denied passage through the Strait of Gibraltar, Iran’s president Hassan Rouhani said on Tuesday. "Security for security, peace for peace, strait for strait. The Strait of Hormuz cannot be opened for you while Gibraltar is closed to us," Rouhani said...
August 6th, 20190Under new prime minister Boris Johnson, the UK has decided to join a US-led coalition to safeguard shipping through the Strait of Hormuz after a string of incidents in the region over the past three months. While exact operational details are being determined, the mission is intended to improve coordination between different...
August 6th, 20192Harland and Wolff, a UK shipyard with a history of more than 150 years, has appointed administers and is likely to request for insolvency, BBC reports. According to a spokesperson of the shipyard, the UK government has named accountancy firm BDO as administrators to oversee the restructuring of the Belfast-based company and an...
July 30th, 20196BP, the seventh largest oil company in the world, has not taken any of its own tankers through the Strait of Hormuz since a July 10 attempt by Iran to seize one of its vessels. To move its oil through the troubled region, BP has been shifting all its crude and products on chartered-in tonnage, the company’s chief financial officer...
July 29th, 20190Stena Bulk is asking Iranian authorities to get access to its impounded product tanker, , and the 23 crew onboard. The UK-flagged ship was seized on July 20 in an apparent retaliation for British armed forces arresting an Iranian VLCC off Gibraltar earlier in the month over a cargo heading for sanctions-hit Syria. Iran has claimed the...
July 29th, 20190UK-based shipowner Union Maritime has acquired 2010-built Japanese MR2 tanker , according to brokers. According to Seasure Shipbroking and Advanced Shipping & Trading, Union Maritime has paid $16.5m to Japan’s Chiba Shipping. VesselsValue places a $15.85m valuation on the ship. Union Maritime currently has 14 MR2s in its...
