RIYADH: The United Nations specialised agency, the International Maritime Organisation (IMO), has warned of mounting repercussions for global shipping amid risks to maritime navigation intensifying in the Strait of Hormuz, the Red Sea, the Black Sea and waters off the coast of Somalia.
The IMO said the crisis in the Strait of Hormuz had initially affected around 2,000 vessels and 20,000 seafarers, highlighting the strait’s importance to global energy supplies, with around 20% of the world’s oil shipments passing through it, the Saudi Press Agency (SPA) reported on Thursday.
In the Black Sea, the number of vessels calling at Ukrainian grain ports has dropped to just one or two a day, compared with 20 to 30 under normal conditions, amid attacks targeting oil tankers and grain vessels.
The UN maritime agency also warned that disruptions to maritime navigation, rising shipping costs and supply shortages could push up commodity prices and pose a threat to global food security. It cautioned that the effects of the crisis could persist into next year, particularly affecting developing countries.
Saudi Arabia, Oman emphasise maritime security
Earlier, Saudi Arabia and Oman had emphasised the importance of ensuring the security and freedom of maritime navigation, as well as supporting diplomatic efforts to de-escalate tensions and enhance regional security and stability.
This came during a phone call between Saudi Foreign Minister Prince Faisal bin Farhan and his Omani counterpart Sayyid Badr bin Hamad Albusaidi, the Foreign Ministry statement said.
Global oil prices jump to $105 a barrel
Oil prices jumped about 4% on Thursday, with Brent crude rising above $105 a barrel as increased attacks on commercial shipping since the Iran war began heightened concerns about disruptions to global energy supplies.
Brent crude futures rose $4.05, or 4%, to $105.26 a barrel by 1215 GMT. US West Texas Intermediate (WTI) crude gained $3.99, or 4.15%, to $100.04, briefly pushing above $100 for the first time since May.
Brent has risen more than 30% from lows reached in early August after diplomatic efforts to secure a lasting US-Iran ceasefire failed and fighting resumed.
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The latest price surge followed attacks on commercial shipping around the Strait of Hormuz, a vital route for global oil and gas supplies.
The UK Maritime Trade Operations agency said it had received reports of several merchant vessels being struck by disabling fire in the Gulf of Oman.
Iraqi port officials said the tanker New Andros, carrying about two million barrels of fuel oil, caught fire after being hit by a drone in Iraqi waters. No casualties were reported among its 22 crew members.
Trump warns Iran
US President Donald Trump on Wednesday warned Iran against activity at the fortified Pickaxe Mountain site near the damaged Natanz uranium enrichment facility.
“We notice there’s a little activity at Pickaxe. I would advise Iran not to get cute because we will have to hit them very hard,” Trump said at a Republican midterm convention in Dallas.
Trump also said the war with Iran would end “immediately” after the US midterm elections in November, without explaining why he expected Tehran to end the conflict at that point.
