Latest news with #Ambrey
Indian Express
3 days ago
- Business
- Indian Express
UAE coast guard evacuates 24 people from oil tanker crash east of Strait of Hormuz
The Emirati national guard said it evacuated 24 people from an oil tanker Tuesday after a collision between two ships just east of the world's most critical oil chokepoint, the Strait of Hormuz. The crude oil tanker, ADALYNN, was bound for Egypt's Suez Canal when the crash in the Gulf of Oman happened. NASA FIRMS satellite data showed heat signatures in the area early morning. The United Arab Emirates national guard said it deployed its coast guard's search and rescue boats to the site, 24 nautical miles off the country's coast, and that the crew was evacuated to the port of Khor Fakkan. British maritime security firm Ambrey had earlier said that the incident was not security-related, as the days-long conflict between Israel and Iran, which is just across the Strait of Hormuz from neighbouring Oman, continued to unfold. The strait is the strategic maritime entryway to the Persian Gulf and sees about a fifth of the world's oil pass through it, according to the US Energy Information Administration. In 2024, an average of 20 million barrels of oil travelled through it daily. After Israel launched airstrikes against Iran on June 13, worry mounted over whether the Islamic Republic might block the waterway. Maritime ship experts say shipowners are increasingly wary of using the waterway, with some ships having tightened security and others cancelling routes there. As the Israel-Iran warfare intensified over the weekend, hundreds of ships in the strait saw spotty navigation signals and had to rely more on radar, though it wasn't immediately clear what caused Tuesday's incident. The Financial Times reported Friday that the world's largest publicly listed oil tanker company, Frontline, said it would turn down new contracts to sail into the Gulf through the Strait of Hormuz after the Israel-Iran conflict broke out. Meanwhile, oil prices continued to climb as US futures were lower Tuesday morning after Israel's military issued an evacuation warning to 330,000 people in Iran's capital, Tehran. Tuesday's rescue came less than two weeks after the UAE national guard airlifted an injured man from an oil tanker to an Emirati hospital.
The National
3 days ago
- General
- The National
UAE Coast Guard rescues 24 crew members after oil tanker collision in Gulf of Oman
The UAE Coast Guard evacuated 24 crew members from an oil tanker on Tuesday after a collision in the Gulf of Oman. The tanker, Adalynn, collided with another vessel 24 nautical miles off the coast near Khor Fakkan. 'A crew of 24 members were evacuated from the incident site, located 24 nautical miles from Khor Fakkan Port. Search and rescue boats were deployed to evacuate the crew from the site,' the UAE's National Guard posted on X. British maritime security firm Ambrey, which reported the incident, said the cause of the collision was not security-related. Reuters reported that electronic interference with commercial ship navigation systems has surged in recent days around the Strait of Hormuz and the wider Gulf, and is affecting vessels in the region. The incident comes as Israel and Iran exchange attacks for a fifth consecutive day. The conflict has heightened concerns over the security of vital shipping routes in the region, including the Strait of Hormuz. The strait lies between Oman and Iran, linking the Gulf with the Gulf of Oman to the south and the Arabian Sea beyond. About a fifth of the world's total oil consumption passes through the strait. Between the start of 2022 and last month, roughly 17.8 million to 20.8 million barrels of crude, condensate and fuels flowed through the strait daily, according to data from Vortexa.
Hans India
3 days ago
- Business
- Hans India
Oil prices go high on fears of wider conflict
New Delhi: Oil prices rose sharply on Tuesday after US President Donald Trump called for the evacuation of Tehran, raising fears of a wider conflict in the Middle East. The prices jumped initially but later eased as the market stayed cautious about any major disruption in oil crude oil went up by as much as 2.2 per cent before falling slightly to trade just above $73 a barrel. West Texas Intermediate (WTI) also rose and hovered near $72. This comes after oil prices had dropped on Monday when there were signs that Iran was trying to calm Israel has continued its military strikes, which began last Friday, targeting key nuclear sites in Iran. The oil market is closely watching the Strait of Hormuz -- a narrow waterway that plays a crucial role in global oil 20 per cent of the world's daily oil supply passes through this route. Maritime security company Ambrey reported a possible incident near the area on Tuesday, although details were not bank Morgan Stanley has raised its oil price forecasts, citing higher risks because of the conflict. Meanwhile, the White House is reportedly discussing the possibility of meeting Iranian officials this week to talk about reviving the nuclear deal and ending the ongoing war with Israel, according to a report by Axios.
Gulf Insider
3 days ago
- Gulf Insider
First View: Oil Tanker Erupts In Flames After Collision Near Strait Of Hormuz
Unconfirmed video circulating on X shows the crude oil tanker Adalynn fully engulfed in flames following a high-impact collision with the tanker Front Eagle. The footage suggests Front Eagle struck the Adalynn on the port quarter, resulting in a substantial breach to the hull and subsequent fire aboard the vessel. In the early morning hours of Tuesday, crude oil tankers Adalynn and Front Eagle collided in the Gulf of Oman, about 24 nautical miles east of Khor Fakkan in the United Arab Emirates, just outside the critical Strait of Hormuz chokepoint. The maritime incident occurred amid ongoing regional instability and increased GPS signal degradation, most likely linked to broader electronic warfare surrounding the Israel-Iran conflict. According to a report from Bloomberg, maritime security firms Vanguard Tech and Ambrey have assessed the tanker collision as a navigational accident with no indications of foul play or links to the ongoing regional conflict. Both firms have classified the incident as non-hostile in nature, downplaying initial speculation of an attack. The Adalynn, a 23-year-old Antigua and Barbuda-flagged tanker with no known insurance and a history of Russia-India sailing routes, may be part of Moscow's 'dark fleet.' All 24 crew members aboard were safely evacuated by the UAE National Guard. The Front Eagle, owned by Frontline Plc and flagged in Liberia, also reported no injuries and is cooperating in the investigation. While traders initially feared a security-related event, which spooked oil and shipping markets, preliminary assessments so far indicate otherwise and likely just a navigational incident. Ambrey analyst Daniel Smith stated, 'At the time of writing, we can only confirm that it is not a security incident. We continue to investigate the cause.' Possible visual evidence of the incident, reportedly showing at least one of the involved tankers engulfed in flames, was circulated on X. The footage remains unverified but has been widely shared. There are unconfirmed reports that three ships are on fire in the Gulf of Oman. NASA Firms data shows three fires in the waters of UAE. Ambrey says it is aware of an incident "22 nautical miles east of Khor Fakkan in UAE", as per alert lines up with Firms data — Faytuks News (@Faytuks) June 17, 2025 The maritime incident comes one day after widespread GPS jamming was reported across the Strait of Hormuz, scrambling navigation for more than 900 vessels. GPSJam—a site that publishes daily heat maps of GPS/GNSS disruptions affecting aircraft—shows multiple 'high-interference' zones clustered around the Strait of Hormuz. The broader concern is that critical maritime chokepoints—including the Strait of Hormuz, Bab el-Mandeb, and the Suez Canal—remain highly vulnerable to disruption should the Israel-Iran conflict escalate or proxy groups tied to Tehran become further entangled. These corridors are essential to global energy flows and commercial shipping, and any kinetic spillover or asymmetric activity in these waterways could have immediate consequences for energy prices and global supply chains.
&w=3840&q=100)
Business Standard
3 days ago
- Business Standard
Explained: How a tanker crash near Strait of Hormuz impacts oil and India
Two tankers caught fire after a collision in the early hours of June 17, 2025, near the Strait of Hormuz, one of the world's most critical energy trade routes, raising alarm in oil and shipping markets already on edge. The incident, reported by Bloomberg, involved the Adalynn, sailing under the Antigua and Barbuda flag, and the Front Eagle, a Liberian-flagged vessel owned by Frontline Plc. The crash occurred 24 nautical miles east of Khor Fakkan, UAE. Satellite images confirmed the fire, but all 24 crew members aboard the Adalynn were safely rescued, according to the UAE's National Guard. No foul play, but timing sparks concern While both vessels caught fire, maritime security firms Vanguard Tech and Ambrey ruled out any hostile action. 'No foul play is suspected,' Vanguard stated, though investigations are still underway. Initial reports triggered brief panic across Asian and Middle Eastern trading desks, with speculation about a link to the ongoing Israel-Iran conflict. Though analysts later clarified it was a navigational mishap, the sensitive location and tense geopolitical backdrop stoked fears. Ambrey initially issued a 'war risk/sighting' alert but downgraded it to 'situational awareness' shortly thereafter. Frontline Plc said a full probe would follow, stressing the incident was not tied to regional military activity. Adding to the confusion, Front Eagle had experienced GPS jamming near Iran's Assaluyeh days before the accident. While jamming has become more common amid rising tensions, experts confirmed that the crash occurred far from that interference zone. Why is the Strait of Hormuz so critical? The Strait of Hormuz is a narrow, 33-kilometre-wide maritime chokepoint between Oman and Iran. Despite its size, it facilitates over 20 per cent of the world's oil supply and nearly a fifth of all global LNG shipments, primarily from Qatar. In 2024, average daily oil flows through the strait stood at 20 million barrels — about a quarter of all seaborne oil trade. Saudi Arabia accounted for the largest share, exporting 5.5 million barrels per day through Hormuz, or 38 per cent of its total traffic, according to Vortexa data. With only three-kilometre-wide shipping lanes in each direction, the strait is extremely vulnerable to disruptions. Any blockage, whether intentional or accidental, can raise global oil prices, spike shipping costs, and slow critical supply chains. What this means for India's oil security India imports over 85 per cent of its crude oil and more than half its LNG from Gulf countries, making it heavily reliant on uninterrupted traffic through the Strait of Hormuz. In 2024, Qatar alone met 80 per cent of India's LNG requirements. A disruption could affect as much as 40 per cent of India's crude intake, risking inflationary pressure and economic slowdown. A $10 increase in oil prices could widen India's current account deficit by 0.55 per cent of GDP and push inflation up by around 0.3 per cent, economists estimate. Beyond oil, Hormuz is also crucial for India's exports to Gulf nations. Even temporary instability raises freight and marine insurance costs, hurting the competitiveness of Indian goods. To safeguard its interests, India continues naval deployments like Operation Sankalp to escort vessels and enhance maritime safety. Israel-Iran tensions fuel fears of maritime fallout With Israel and Iran trading direct drone and missile strikes since last week, fears are growing over a potential escalation at sea. Iran has previously threatened to block the Strait of Hormuz during times of conflict. Although the recent fire appears unrelated to hostilities, the regional context cannot be ignored. Historically, flare-ups in this zone have spurred oil price surges and rerouting of cargo vessels. Insurance premiums often rise sharply, adding to trade and logistics costs. For major importers like India, China, Japan, and South Korea, even perceived instability in Hormuz translates to real economic impact.
