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.
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.
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.
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.
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