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News on Iran.

South Korea deploys naval vessel to Strait of Hormuz

South Korea has deployed a warship to the Stait of Hormuz after the Islamic Revolutionary Guard Corps seized a South Korean-flagged tanker Monday, citing pollution. South Korea demands that the ship and its 20-man crew be released.

Norwegian marine insurer worried about conflict

The conflict between the US and Iran raises concerns at Norwegian marine insurer DNK, reports Reuters. The company expects to see rising premiums on war risk insurance for ships in the Strait of Hormuz.

Media: Iranian tanker on fire off the coast of Saudi Arabia

Iranian news agency ISNA and Reuters report that an Iranian tanker ship has burst into flames after being hit by an explosion off the coast of Jeddah in Saudi Arabia. The ship allegedly belongs to Iranian oil company National Petroleum Company.

Stena CEO: Stena Impero still detained in Iran

Vessel Stena Impero, which was seized by Iran in July, remains detained in the country, says Stena Bulk CEO Erik Hånell. This happens despite the fact that Iranian authorities have said the vessel has been released.

Tanker rates may drop following attack on Saudi Arabian oil plants

VLCC and LPG rates will face pressure following Saturday's drone attack on two Saudi oil plants, assesses investment bank Cleaves Securities. The bank furthermore predicts that the strike may lead to "several attacks on shipping" in the area around the Strait of Hormuz.

Iran may release Stena vessel "within days"

A spokesperson from Iran's Ministry of Foreign Affairs says vessel Stena Impero may be released "within days". The ship was detained by Iran on July 20 and has since then been docked at the Port of Bandar Abbas.

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