ShippingWatch

Iranian retaliation could have severe consequences for tanker market

The high-tension situation between the US and Iran has so far not made a significant impact on the tanker market. Should Iran choose to retaliate, however, it could have major consequences, assesses brokerage Arrow Tankers to ShippingWatch.

Photo: Hamad I Mohammed/Reuters/Ritzau Scanpix

While the world awaits the next step in the tense situation between the US and Iran following the former's attack on Friday, the tanker market has so far not reacted, and rates remain stable.

This picture could change, though, if Iran chooses to retaliate for the drone attack in Iraq that killed Iranian Major General Qassem Soleimani and other prominent people from an Iran-backed militia.

Read the whole article

Get 14 days free access.
No credit card required.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Alphaliner: HMM set to go private in 2022

The South Korean state is reportedly prepared to divest container line HMM after having rescued the company from bankruptcy in 2016. According to Alphaliner, South Korea's central administration has confirmed a plan to privatize the carrier in 2022.

400 people risk being laid off at Seadrill

Once the contracts for two of Seadrill's drilling rigs expire, around 400 of the company's 1,050 employees are at risk of losing their jobs, reports media. Labor union expects the carrier to announce dismissals prior to Christmas.

X-Press Feeders orders eight methanol-powered container vessels

Singapore-based carrier X-Press Feeders has placed an order for eight new container vessels capable of sailing on both green methanol and conventional bunker oil. The ships will be delivered in 2023 and 2024. The carrier initially announced the order as being for 16 new ships but has since adjusted this number. Updated.

Further reading

Related articles

Latest news

See all jobs