Tag Archives: tanker

The Latest: US unveils seizure warrant for Iranian tanker

The Latest: US unveils seizure warrant for Iranian tankerThe U.S. government says it has a warrant to seize an oil tanker at the center of a diplomatic standoff because of violations of U.S. sanctions, money laundering and terrorism statutes. The U.S. attorney’s office in Washington says a seizure warrant and forfeiture complaint were unsealed Friday. The U.S. is seeking to take control of the oil tanker Grace 1, along with all of the petroleum aboard and $ 995,000.



Yahoo News – Latest News & Headlines

Mom aims head-on at a tanker to kill herself, sons. When truck dodges, she doubles back

Mom aims head-on at a tanker to kill herself, sons. When truck dodges, she doubles backPolice say a Gainesville, Florida, mom of two young boys told a friend she was going to kill herself and her sons by crashing her car with everyone inside.



Yahoo News – Latest News & Headlines

U.S. issues warrant to seize Iran oil tanker 'Grace 1' after Gibraltar judge orders its release

U.S. issues warrant to seize Iran oil tanker 'Grace 1' after Gibraltar judge orders its releaseThe U.S. Justice Department issued a warrant to seize an Iran oil tanker detained in Gibraltar, a day after a judge ordered the release of 'Grace 1.'



Yahoo News – Latest News & Headlines

UPDATE 1-U.S. warrant issued for seizure of Iranian oil tanker in Gibraltar

UPDATE 1-U.S. warrant issued for seizure of Iranian oil tanker in GibraltarA U.S. court has issued a warrant for the seizure of an Iranian tanker that British Royal Marines had seized last month in Gibraltar, a court document showed on Friday. The oil tanker Grace 1, the more than 2 million barrels of oil it carries and $ 995,000 are subject to forfeiture based on a complaint by the U.S. government, U.S. Attorney for the District of Columbia Jessie Liu said in a news release.



Yahoo News – Latest News & Headlines

EXCLUSIVE-China-owned oil tanker changes name in apparent effort to evade U.S. sanctions

EXCLUSIVE-China-owned oil tanker changes name in apparent effort to evade U.S. sanctionsSINGAPORE/KUALA LUMPUR, Aug 16 (Reuters) – While in the Indian Ocean heading toward the Strait of Malacca, the very large crude carrier (VLCC) Pacific Bravo went dark on June 5, shutting off the transponder that signals its position and direction to other ships, ship-tracking data showed. A U.S. government official had warned ports in Asia not to allow the ship to dock, saying it was carrying Iranian crude in violation of U.S. economic sanctions. A VLCC typically transports about 2 million barrels of oil, worth about $ 120 million at current prices.



Yahoo News – Latest News & Headlines

Gibraltar defies U.S. intervention and releases Iran oil tanker

Gibraltar defies U.S. intervention and releases Iran oil tankerThe United States applied to seize an Iranian oil supertanker impounded in Gibraltar. The ship has been released.



Yahoo News – Latest News & Headlines

Gibraltar court to decide fate of seized Iranian tanker

Gibraltar court to decide fate of seized Iranian tankerGibraltar’s Supreme Court was to decide on Thursday whether an Iranian oil tanker seized last month near the tiny British territory can be held longer amid speculation that it might soon be released. The Grace 1 supertanker, carrying 2.1 million barrels of Iranian oil, was seized on July 4 by Gibraltar police and British special forces off the overseas British territory, provoking a diplomatic crisis between Tehran and London. Iran, which has described Britain’s actions as “piracy”, seized a British tanker, the Stena Impero, on July 19 in the strategic Strait of Hormuz for breaking “international maritime rules”.



Yahoo News – Latest News & Headlines

Iran's detention of UK-flagged tanker unacceptable: owner

Iran's detention of UK-flagged tanker unacceptable: ownerThe continued detention of British-flagged tanker Stena Impero is “unacceptable and unjustifiable” and there are concerns for the welfare of the crew after 19 days in confinement, the vessel’s owner said on Tuesday. Iran’s Revolutionary Guards on July 19 seized the Stena Impero in the Strait of Hormuz waterway for alleged marine violations. The saga has exacerbated frictions between Tehran and the West since the United States pulled out of an international agreement curbing Iran’s nuclear program and reimposed economic sanctions.



Yahoo News – Latest News & Headlines

So Much for Suez: What Britain's Tanker Crisis with Iran in the Gulf Really Means

So Much for Suez: What Britain's Tanker Crisis with Iran in the Gulf Really MeansLast week’s seizure of a British tanker in the Persian Gulf is nothing short of shocking.The Swedish-owned and British-flagged oil tanker Stena Impero was intercepted en route to Saudi Arabia when it was attacked. The daring raid as captured, if not choreographed, by Iranian state television saw soldiers of Iran’s elite Revolutionary Guards Corps rappel from helicopters to the deck, with fast attack ships running circles around the vessel.Yet the most interesting detail is that the British frigate HMS Montrose was in the Gulf, arriving “ten minutes too late” to prevent the attack. Moreover, the crew of the Montrose contacted the Iranians, warning them to stand down, words that were completely ignored by Iranian forces.So much for a robust deployment East of Suez.An Unprepared PowerIt appears that, in the short term, this crisis is the result of a convergence of factors spurred on by the unsolved national predicament that is Brexit.Functionally, Britain was leaderless as Iranian forces boarded the vessel. Prime Minister Theresa May was a lame-duck, unable to act as the Conservative Party elected a successor. Tuesday, they chose Boris Johnson as the next prime minister, but his first priority is Brexit, not Iran.



Yahoo News – Latest News & Headlines

Oil Resumes Drop as Demand Fears Overshadow Iran Tanker Seizure

Oil Resumes Drop as Demand Fears Overshadow Iran Tanker Seizure(Bloomberg) — Oil resumed its decline as a sharp drop in the Chinese yuan compounded fears that a deepening trade war will depress demand, countering concerns crude flows may be disrupted following Iran’s seizure of another ship.Futures lost as much as 1.5% in New York. The yuan weakened beyond 7 a dollar for the first time in more than a decade after President Donald Trump said Friday he can raise tariffs on China to a “much higher number.” That followed his threat the day before to increase levies, which spurred the steepest one-day drop in crude prices in more than four years. Iran seized a foreign tanker in the Persian Gulf on July 31, the Revolutionary Guards said on their Sepah News portal Sunday, without giving any details about the vessel.Asian stocks and currencies extended declines on the escalating tension between the world’s two largest economies as China’s move to let the yuan weaken stoked fears of a currency war. Investors are awaiting speeches from Federal Reserve policy makers this week after Chairman Jerome Powell said last month’s rate cut didn’t signal the start of a lengthy easing cycle.“Investors think a full confrontation or military clash between the U.S. and Iran is unlikely, but are more concerned about the possibility the U.S.-China situation will worsen,” said Jun Inoue, a senior economist at Mizuho Research Institute Ltd. in Tokyo. Oil prices could fall a lot further if the additional tariffs on China are imposed and the Fed doesn’t cut rates again, he said.See also: Trump Is Spooking Oil Markets More Than Iran: Julian LeeWest Texas Intermediate oil for September delivery fell 75 cents, or 1.4%, to $ 54.91 a barrel on the New York Mercantile Exchange as of 7:23 a.m. in London after losing as much as 82 cents earlier. The contract dropped 1% last week and tumbled 7.9% on Thursday.Brent crude for October settlement declined 96 cents, or 1.6%, to $ 60.93 a barrel on the ICE Futures Europe Exchange. It fell 2.5% last week. The global benchmark traded at a premium of $ 6.04 to WTI for the same month.Trump said Thursday he would impose a 10% tariff on a further $ 300 billion of Chinese imports, before saying the following day that the levies could be raised even further. Beijing pledged to respond. China has a “nuclear option” of depreciating its currency even further as a potential way of provoking the U.S., said Kyle Rodda, an analyst at IG Markets Ltd. in Melbourne.The ship taken by Iran’s Revolutionary Guards was carrying around 4,400 barrels of smuggled fuel when it was seized near Farsi Island in the western part of the Persian Gulf off Iran’s southwestern coast, Sepah News reported. Iran’s state-run Press TV reported that the seized ship is an Iraqi tanker that was delivering the fuel to some Arab countries in the Gulf. Iraq’s oil ministry denied it was one of theirs.\–With assistance from James Thornhill.To contact the reporter on this story: Tsuyoshi Inajima in Tokyo at tinajima@bloomberg.netTo contact the editors responsible for this story: Serene Cheong at scheong20@bloomberg.net, Andrew Janes, Ben SharplesFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.



Yahoo News – Latest News & Headlines