EghtesadOnline: The Ports and Maritime Organization is planning to build a new port on the east coast of the Strait of Hormuz, which will have a loading and unloading capacity of 150 million tons of commodities per year once all phases have been completed, according to the head of PMO.
EghtesadOnline: The presence of foreign military forces in the sensitive Persian Gulf is unconstructive, the Iranian Foreign Ministry said following France's declaration this week that the military component of its maritime surveillance and security mission in the Strait of Hormuz is fully operational.
EghtesadOnline: Australian Prime Minister Scott Morrison said his country will not be drawn into any military conflict with Iran, declaring that Canberra’s commitment is limited to protecting freedom of navigation in the Strait of Hormuz.
EghtesadOnline: Britain on Monday joined the United States in a maritime security mission in the Persian Gulf to purportedly protect merchant vessels travelling through the Strait of Hormuz after Iran seized a British-flagged vessel.
EghtesadOnline: Japan will continue importing crude oil from the Middle East despite escalating tensions in the Strait of Hormuz, but will also make efforts to diversify supply sources, Minister of Economy, Trade and Industry Hiroshige Seko said Tuesday.
EghtesadOnline: A British-flagged oil tanker seized by Iran in the Strait of Hormuz has been taken to a nearby port for further investigations, a senior official said on Saturday, adding that the vessel had caused an accident but ignored distress calls.
EghtesadOnline: Iran rejected US President Donald Trump's claim about the downing of an Iranian drone by an American naval ship on Thursday in the Strait of Hormuz.
EghtesadOnline: The International Energy Agency is "significantly" concerned about geopolitical tensions, including in the Strait of Hormuz, but oil markets are currently well supplied and unlikely to see "huge price increases for now," the head of the agency said Friday.
EghtesadOnline: Japanese refiners have started weighing alternative crude supply sources that would not need to transit through the Strait of Hormuz, including from the Red Sea side in Saudi Arabia, West Africa and the US, amid rising tensions in the region, Petroleum Association of Japan President Takashi Tsukioka said Friday.
EghtesadOnline: The Japanese government has been requesting the United States for concrete evidence to back its allegation that Iran attacked two tankers near the Strait of Hormuz on Thursday, government sources said on Sunday.