Middle East escalation affects global shipping, oil prices The latest escalation in the Middle East is rippling quickly through trade. Oil and natural gas prices have jumped since US and Israeli strikes on Iran on 28 February. Brent crude – the international benchmark...

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The announcement from US President Donald Trump about selling “political risk insurance and guarantees for the Financial Security of all maritime trade, especially energy, traveling through the Gulf” has yet to be explained in full. Depending on the details of the...

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Stamatis Tsantanis, Chairman & CEO of global shipping company Seanergy Maritime and United Maritime says the closure of the Strait of Hormuz has already led to a four to five times increase in freight rates for tankers and significant shortages in the global...

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Container shipping rates from the west coast of India to the Middle East hit record highs, with twenty-foot equivalent unit rates up 750% and forty-foot equivalent unit rates up 909% as of March 2, driven by the war in the Middle East. Platts, part of S&P Global...

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IBIA’s thoughts are with all our members, seafarers and shore-based personnel affected by the recent developments in the Gulf region. We join our fellow international industry associations in expressing concern and in calling for the protection of all those who...

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