ADNOC is cutting offshore oil output to manage storage as the U.S.-Israeli war on Iran disrupts shipments through the Strait of Hormuz, while onshore operations continue.
The IMO has urged shipping companies to put crew safety first after attacks on merchant vessels in the Strait of Hormuz caused seafarer casualties. The agency also warned operators to use only confirmed information when making navigational decisions in the high-risk corridor.
Seafarers on IBF-covered ships can now refuse voyages through the Strait of Hormuz and the wider Middle East Gulf after the threat level reached its highest category. The new arrangement includes repatriation rights, two months of basic wage compensation, higher pay in the zone, and doubled compensation in death or disability cases.
Iran said the Strait of Hormuz remained open and ruled out an immediate shutdown, even as ship movements through the waterway nearly came to a standstill during the US-Iran war.
COSCO Shipping Lines has suspended new bookings to several Middle East destinations after a security risk review, joining major carriers avoiding the Strait of Hormuz amid rising tensions.
MSC has suspended all cargo bookings to the Middle East and instructed vessels in the Gulf region and those en route to proceed to designated shelter locations amid rising security risks near Hormuz and Bab el-Mandeb.
Trump ordered U.S. Development Finance Corporation to offer political risk insurance and guarantees for Gulf shipping after war-risk cover was withdrawn, and raised the option of tanker escorts.
Iran’s IRGC warned that the Hormuz route is closed and vessels attempting passage would be attacked, raising fresh operational and insurance risk for tanker trades.
The Strait of Hormuz closure halted at least 150 tankers, paused Gulf terminal operations and forced carriers to suspend bookings and reroute vessels, driving delays and higher war-risk costs.
