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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
Colombo is benefiting from disruption in the Red Sea at the expense of ports in Saudi Arabia, a study has suggested that drought in the Panama Canal is not climate change-related and Iran’s oil exports remained strong in April despite sanctions
Over a dozen tankers linked with Iran, including several that were recently sanctioned, are fraudulently flying the Guyanese flag. The country’s maritime administration said an organisation named the International Maritime Safety Agency of Guyana, with which it used to have a contract, has been registering ships under its flag without authorisation
Iranian foreign minister announces that the 25 crew of MSC Aries have been released and are free to go home, but MSC Aries itself remains under Iranian control on the grounds that it has ‘jeopardised the security of navigation’
The US has sanctioned 25 tankers and four LPG carriers in the year to date because of links to Iran. These measures have thus far not had a significant impact on exports of crude and condensates, according to preliminary figures from tanker trackers at UANI, but the effect could become more pronounced in the coming months
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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