The detainment of a UK-flagged tanker vessel close to the Strait of Hormuz now makes security firms pull their British employees from ships in the area. "We are advising our clients do the same," co-founder of major security firm tells Financial Times.
The UK navy has been tasked with accompanying British-flagged vessels through the Strait of Hormuz, says government spokesperson. This precaution is a result of last week's seizure of a British-flagged tanker vessel. Updated.
UK prime minister Theresa May will lead a meeting with the UK government's emergency committee Monday to discuss the security situation in the Persian Gulf after Iran seized a British oil tanker Friday.
A small oil tanker that had gone missing in the Persian Gulf had technical difficulties and was towed into Iranian waters for repairs, an Iranian foreign ministry official said, according to the ISNA news agency.
Following the UK's seizure of an Iranian supertanker at the Strait of Gibraltar due to suspicionof its oil cargo having been bound for a Syrian refinery, Supreme Leader Ayatollah Ali Khamenei vows to retaliate to the UK's vessel seizure, which Khamenei calls "piracy".
By 2050, the UK shipping sector must be emission-free, and starting 2025, new ships built for UK waters should be able to sail without emitting any GHG, according to a climate action plan set forth by the British government. Subsidies are also on the table.
Sliding profit margins pose difficulties for logistics companies in paying for Brexit preparations, concludes a new report from the UK's Freight Transport Association. 37 percent of companies participating in the survey have not yet taken steps to prepare.
The UK Ministry of Transport has decided to cancel a much-maligned contract with ferry operator Seaborne Ferries, the purpose of which was to provide additional capacity in the case of a hard Brexit. This could be good news for DFDS.
The British Parliament emphatically rejected Theresa May's Brexit deal. With the UK due to leave the EU in 10 weeks, there is growing alarm that the impasse will not end in time to avoid the potential economic disaster that would be a no-deal exit.
The European Union and the UK have agreed on a draft Brexit deal. Now Prime Minister Theresa May's Cabinet must decide whether to back it or resign. EU officials caution that the deal is not settled until it is cleared in London.
The EU's chief negotiator Michel Barnier reached out to his British counterparts Tuesday in an attempt to find out how to set up the Irish border after Brexit. But the two parties still insist on different solutions.
Equity fund Hitec Vision plans to spend more than a billion dollars acquiring oil fields in the British part of the North Sea. Massive cost reductions have made the market attractive, says the investment director.