EU used new powers to sanction Iran over Hormuz
The EU imposed its first sanctions under a new maritime security regime, targeting two Iranian individuals and an IRGC naval unit for threatening commercial shipping in the Strait of Hormuz
Strait of Hormuz
With the seizure of the Adrian Darya 1 (formerly Grace 1) by Gibraltar the Iranian government responded by seizing the UK flagged Stena Impero. With US administration's "maximum pressure" campaign continuing against Iran tension within the region continues to rise. Trade treads carefully with risk to seafarers and increased premiums against a backdrop of geopolitics
Hot Topic one stream
Houthis declare ‘total ban’ on Israeli ships in Red Sea as Israel-Iran strikes shatter ceasefire
Israel and Iran have exchanged direct strikes for the first time since April’s ceasefire, as the US continues its naval blockade on Iranian oil seizing another sanctioned tanker
Ofac continues Iranian LPG crackdown with fresh sanctions
Fresh US sanctions target a UAE-based network shipping Iranian LPG
DATA ANALYSIS
China-controlled vehicle carriers clear Gulf as European and Japanese ships remain confined
Chinese operators have been more successful than their international peers in extracting vessels from the region, with many ships across various sectors departing the Middle East Gulf
Why the Adrian Darya 1 saga is an issue for the whole industry
The saga of the Adrian Darya 1, now expected to deliver its cargo of 2m barrels of Iranian crude to Syria in direct contravention of its release agreement, is an embarrassing political episode, but it should not be written off by shipping as an anomalous example of deceptive political posturing — there is a risk to the wider industry that must be addressed
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