#hormuz
To everyone wondering why ships are holding up outside the Strait of #Hormuz right now, the reason is WAR RISK INSURANCE! Right now, every major Protection and Indemnity (P&I) Club is notifying their clients of the need for additional protection (AP). You see, the shipping companies are not worried about incurring damage from the Iranians. They are worried about incurring damage that is not INSURED! The ships will sail once they garner the additional protection or they will seek out another port to load, but 20% of global crude comes out of the Persian Gulf and through the Strait of Hormuz. Welcome to the world of Global Shipping!
Sal Mercogliano (WGOW Shipping) 🚢⚓🐪🚒🏴☠️1,653,946 次观看 • 6 个月前
Breaking🇮🇶: Iran announces a “special gift” to Iraq, allowing its crude to pass through the Strait of #Hormuz. The official spokesperson of #Iran’s Khatam Al-Anbiya Ebrahim Zolfaghari, said Iraq is exempt from any restrictions on passage through Hormuz. But the timing says more than the statement itself. 🧵 (1) Until yesterday, Iraqi officials were scrambling for alternative crude export outlets, rerouting north (#Ceyhan) and trucking west (#Syria), while losing billions in revenues. Now suddenly, Baghdad is “gifted” an exemption. (2) Iraq has been the hardest hit by Iran’s Hormuz closure: • Monthly revenues fell from ~$6.8bn in February to ~$1.9bn in March • This left #Baghdad with a ~5 trillion Iraqi dinar gap just to pay salaries in a country with near-total dependence on oil revenues (3) This isn’t just about Iraq. Iraqi oil revenues remain a key source of dollar liquidity, including for Tehran itself. At the same time, Iran-aligned Iraqi militias, some now reportedly operating in Iran, depend on that same financial ecosystem. (4) Iraq has shut in many of its oil fields, with production falling from around 4.4mn b/d , including from the KRG, prior to the war, to around 900,000–950,000 b/d now, according to Argus Media estimates. Monitoring Iraq’s production and tanker movements will be key. #oott
Bachar EL-Halabi | بشار الحلبي228,022 次观看 • 5 个月前
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Volker Türk calls for urgent action to remedy the plight of thousands of stranded seafarers who are facing a dire humanitarian & human rights crisis in & around Strait of #Hormuz. States, shipowners & all relevant actors must urgently ensure their protection. Seafarers should not be forced or compelled to endanger their lives by sailing through conflict zones.
UN Human Rights51,016 次观看 • 1 个月前
