NEW DELHI: Shipping traffic through the Strait of Hormuz and the Bab-el-Mandeb strait, the key maritime chokepoints in the Gulf, reduced significantly on Wednesday from the previous day, shipping data showed. Just two vessels transited the Strait of Hormuz, including a Panama-flagged coal-laden carrier entering the waterway and another commodity Marshall Islands-flagged vessel exiting, shipping […]
Muscat: Asyad Shipping has sold a 20 per cent stake in each of its two new-build liquefied natural gas carriers, ‘Muscat LNG’ and ‘Musandam LNG’, bringing two Omani institutions into the ownership of the vessels. In a disclosure to shareholders and market participants dated July 26, the company said it had signed an agreement with […]
MUSCAT, July 9 Asyad Shipping, the majority state-owned Omani maritime transportation company, has signed contracts worth approximately $308 million for the construction of six medium-range (MR) product tankers with South Korean shipbuilding giant Hyundai Heavy Industries, marking another major milestone in its long-term fleet expansion strategy. The company, part of Asyad Group and listed on […]
Iran and the United States are about to sign a peace deal that will reopen the Strait of Hormuz, the narrow waterway that carries about one-fifth of the world’s oil. Oil prices reacted quickly to the announcement of the tentative deal, dropping from highs that had pushed gasoline prices toward record levels in North America. […]
