GULF CARRIERS
Liberian-flagged tanker carrying six Indian seafarers hit by projectile in Persian Gulf while sailing towards Dubai
A Liberian-flagged oil tanker carrying six Indian seafarers was hit by a projectile while travelling through the Persian Gulf on Tuesday, leaving four crew members injured, including one Indian national. Union Minister Sarbananda Sonowal said the remaining 18 crew members, including five other Indians, were safe.
Iran war, doubling fuel prices knock 66% off Emirates' first-half profit
Emirates Group's first-half net profit plunged 66% to $1 billion as the Iran war disrupted flights across the Gulf and doubled jet fuel prices. Passenger numbers at Emirates airline fell 22%, while cargo revenue rose 52%. The Dubai-based group is relying on cash reserves as geopolitical uncertainty clouds its outlook.
MIAL seeks to shift 14 international flights to Navi Mumbai Airport by Nov 3
Mumbai International Airport has proposed shifting flights to 14 international destinations to the new Navi Mumbai International Airport. This move aims to free up capacity for the redevelopment of Terminal 1 at the current airport. If airlines do not voluntarily surrender slots, the airport operator plans to execute the transition. Passengers flying to Gulf and Asian destinations may have to use the new airport instead.
FLY91 plans to expand fleet to 60 aircraft in five years, targets 350 weekly flights: CEO Manoj Chacko
Regional airline FLY91 plans to expand its fleet from six to around 60 aircraft over five years, backed by an order for 40 planes scheduled for delivery between 2027 and 2032. The airline also aims to operate nearly 350 weekly flights this winter, prioritising domestic expansion before exploring international routes.
World War III: US to introduce mandatory military service as Trump, Vance abruptly cancel campaign rallies amid Iran tensions?
Fears of World War III are growing amid rising tensions between the US and Iran, with President Donald Trump abruptly cancelling his scheduled campaign events over the weekend. The developments have raised questions about whether the conflict could escalate and whether American civilians could eventually be called up for military service.
2 tankers explode after allegedly hitting naval mines in Strait of Hormuz, Iran claims
Iran's Islamic Revolutionary Guard Corps reported that two oil tankers exploded in the Strait of Hormuz after striking naval mines. Both vessels allegedly ignored warnings about using restricted routes and had switched off their navigation systems. The UK Maritime Trade Operations issued a warning about an incident in the same area involving a merchant vessel.
- Go To Page 1
Qatari LNG tanker attacked in Gulf amid Iran-US conflict, state media reports
A Qatari tanker has been attacked with "unidentified objects" while transiting Gulf waters, the country's state news agency reported Sunday. The attack on Friday evening struck a liquefied natural gas carrier, Al Mayeda, which belongs to the Qatar Gas Transport Company, Qatar News Agency said.
Commercial LPG price hiked by Rs 10; ATF rates up Rs 1.37 per litre from November 1
From November 1, the price of a 19-kg commercial LPG cylinder increased by Rs 10 to Rs 2,820. Aviation turbine fuel prices have also risen by Rs 1.37 per litre to Rs 138.50. These increases represent the fourth consecutive monthly rise in jet fuel prices, driven by international benchmarks. Commercial LPG price revisions impact hotels and restaurants, following a series of hikes earlier this year.
Marshall Islands-flagged LNG carrier with six Indians targeted in Persian Gulf attack; all crew safe
On October 30, an LNG carrier named M/T AL MAYEDA was targeted in a projectile attack. The vessel carried six Indian seafarers along with a crew of 25 members. Fortunately, all crew members, including the Indian nationals, are safe following the incident. Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal confirmed the safety of the crew.
'Missile shield at Mar-a-Lago, mass burial drills': Is Trump ready?
The US military is enhancing its presence in the Middle East as tensions with Iran escalate. Preparations include reinforcing air defenses and conducting battlefield casualty exercises that have not occurred in decades. Recent reports suggest a possible military campaign against Iran could commence following the midterm elections. Despite ongoing diplomatic efforts, significant disagreements remain regarding nuclear negotiations and sanctions.
US warns allies to prepare for possible Iran strikes, retaliation after elections, sources say
US officials have alerted regional allies about potential military action against Iran following the upcoming elections. President Trump's administration is considering renewed strikes against Iran, emphasizing preparations for possible retaliatory actions. Iranian officials express a willingness to pursue diplomatic solutions despite the tensions. The conflict has intensified with Houthi rebels targeting Saudi infrastructure amid unrest. The situation remains fragile as both sides anticipate further developments in the region.
Ship attacks in Strait of Hormuz hit record high in October
Attacks on commercial shipping in the Strait of Hormuz and nearby waterways reached a record high in October, according to a Washington-based think tank. More than 30 supertankers were damaged since the US-Israeli war with Iran began on February 28, threatening oil shipments and adding pressure to global energy markets.
Hormuz war risk pushes crude shipping costs sevenfold, squeezes refiners' margins: Goldman Sachs
Global crude oil freight rates are rising due to war-related risks in the Strait of Hormuz and increased ship-to-ship transfers. Goldman Sachs reports that shipping costs are significantly higher than they were a year ago. Asian refiners are particularly pressured, facing potential profit margin reductions as they may pass costs to consumers. The increased freight costs could lead to lower refined fuel output and rising global fuel prices.
US orders some diplomats to leave Saudi Arabia as fears of escalating Houthi attacks rise
The United States has ordered some diplomats and their families to leave Saudi Arabia due to increasing tensions. This decision follows attacks by Yemen's Iran-supported Houthi rebels on critical infrastructure in Saudi Arabia. The U.S. Embassy in Riyadh has been operating under restricted staffing, and travel alerts have been issued for government personnel. Meanwhile, drone attacks in Saudi Arabia continue to create security concerns and disrupt operations.
Indian Oil to trim Middle East oil imports under annual deals amid Iran war
Indian Oil Corporation plans to reduce its crude oil imports from Middle Eastern sources in the next fiscal year due to the ongoing war in Iran, which has led to significant supply chain uncertainties. This anticipated decrease in crude volumes under annual contracts comes as shipping is affected by vessel attacks. Additionally, rising freight costs have prompted Indian refiners to prefer spot purchases.
Middle East flights remain disrupted as airlines cancel routes despite airport reopenings and airspace warnings
As Riyadh’s King Khalid International Airport resumes operations, numerous airlines have still suspended flights and modified their schedules due to ongoing security tensions in the Middle East. A few carriers, including Air India and Emirates, have scrapped flights to significant Saudi destinations. Passengers are strongly encouraged to confirm their flight statuses with the respective airlines before making their way to the airport, as disruptions are anticipated to persist into November.
Saudi airport closure disrupts life in kingdom's capital
Riyadh's airport has been closed for over a week following multiple attacks by Yemen's Houthis. This situation has forced the cancellation of major events, including the Future Investment Initiative. Domestic airlines are struggling to reroute flights for residents amid growing safety concerns. Western embassies are tightening travel advisories due to the ongoing threat. Saudi officials continue to reassure citizens and investors about their safety during these turbulent times.
Right question for a bearish market: Not ‘will it fall’, but ‘is the business falling’? 5 large-caps with upside potential of up to 29%
The best large companies are the ones FPIs own the most. So, when they decide to sell, it is precisely these high-quality stocks that see the heaviest selling. That is one of the reasons why large-cap stocks have been under pressure of late.
Florida to dump 990-foot ship in Gulf of Mexico to create world’s largest artificial reef. It will create a new marine habitat
The iconic SS United States is on the verge of transformation as plans to sink her and create an artificial reef in the Gulf advance. With a budget of $10.1 million, this initiative aims to boost marine habitats and draw in diving enthusiasts. Preparatory stages include the careful removal of toxins from the ship, with officials emphasizing compliance with environmental safety protocols.
Air India, AI Express extend temporary suspension of flights to Saudi Arabia until October 24
Air India and Air India Express have extended their suspension of flights to Saudi Arabia until October 24. Bookings issued before October 15 for specific travel dates can benefit from a complimentary date change. Passengers may also opt for rebooking from alternative locations in the GCC region to minimize travel disruptions. Several airlines, including IndiGo and Akasa Air, have similarly suspended operations in Saudi Arabia.
Makkah Control Room established for Indian Umrah pilgrims amid Saudi flight disruptions
Due to the recent flight disruptions, India has established a dedicated control room in Makkah to provide support for Indian Umrah pilgrims. The Indian Consulate in Jeddah maintains its 24-hour control room services. Travellers are encouraged to confirm flight details directly with airlines and remain alert to safety advisories issued by the embassy, especially given the ongoing regional tensions.
Oil prices fall as investors weigh supply outlook, Middle East tensions
Oil prices experienced a downturn as investors weigh the repercussions of shipping assaults in the Strait of Hormuz, particularly from Houthi attacks on Saudi Aramco, heightening supply disruption fears. In response, the US is considering relaxing sanctions on oil transport vessels to stabilize consumer prices. Meanwhile, increased Russian oil production is aiding market stabilization, complemented by a notable decline in US crude oil inventories reported by the American Petroleum Institute.
Record oil tanker rates put pressure on Asian refiners, IEA says
Asian oil refiners are facing increased shipping costs that are significantly affecting their profit margins. The cost of transporting oil via supertankers from the Middle East has surged sharply, leading to higher delivery prices. As a result, many refiners have seen their processing margins turn negative in recent months. Although refiners can buy US crude, shipping rates have also risen considerably for these imports.
Airlines suspend flights to Saudi Arabia until October 17
Airlines have suspended flights to Saudi Arabia following an attack at Riyadh airport that injured multiple individuals. Indian carriers, including Air India and IndiGo, halted services to major cities like Riyadh and Jeddah. International airlines, such as Emirates and Lufthansa, also canceled numerous flights due to the disruptions. Passengers are advised to explore alternative travel options through neighboring Gulf countries.
Indian Embassy reiterates Saudi Arabia's alert of potential danger in Eastern Province
Saudi Civil Defence has alerted citizens in the Eastern Province about a potential danger and issued safety advisories. Indian Embassy has supported this alert by urging citizens to follow official instructions carefully. Citizens are advised to stay indoors and avoid open areas until the situation is deemed safe. Drivers receiving warning messages should pull over safely and avoid high-risk areas.
The next Iran war could be bigger, wider and harder to contain
Iran is actively preparing for potential military engagements that could provoke a major regional conflict. The escalation of Houthi attacks on Saudi territory complicates the situation for US allies in the Gulf. American military assets are being deployed in the region, anticipating possible Iranian reprisals. The interplay between ongoing conflicts could threaten critical infrastructure and international shipping lanes.
Air India, IndiGo extend Riyadh flight cancellations amid regional tensions
Due to rising unrest in the region, airlines are cancelling flights to Saudi Arabia. Etihad Airways has announced a suspension of services until mid-October, and Qatar Airways has ceased operations temporarily. The attacks on Riyadh airport have provoked significant safety worries, leading to widespread cancellations and delays. As circumstances develop, travel disruptions are anticipated to persist while authorities evaluate the safety landscape.
Crude oil crisis in Hormuz: Much more than just price and quantity
The conflict in Iran has closed the Strait of Hormuz, severely impacting global oil shipments and market dynamics. While oil availability has seemingly increased, a logistics premium affects shipping costs and insurance. This situation has led to heightened risks, causing delays in transit times and increased tanker requirements. Diesel shortages are also rising, with prices escalating significantly as supply chains are disrupted.
Airspace curbs impact on Air India worse than last year: Official
The Tata Group-owned airline has been taking longer routes for its European and North American flights since early last year following the Pakistan airspace closure for Indian carriers. Now, in addition, the airline is grappling with airspace curbs in various Gulf countries amid the continuing Middle East conflict.
Load More
