FEATURE | Crude oil tanker freight rates from the Arabian Gulf to China double on the back of tanker attacks

VLCC spot freight rates between the Arabian Gulf and China rose 101 per cent in the days between June 13 and June 20, in the aftermath of attacks on two tankers in the Strait of Hormuz, according to BIMCO. Spot freight rates for a VLCC, carrying two million barrels of oil, between the Arabian Gulf and China reached US$25,994 per day on June 20, their highest level since March and significantly above the May average of US$9,979 per day.

Plans unveil Dubai as regional cruise hub

Carnival Corporation and Dubai-based Meraas will jointly develop the Dubai Cruise Terminal and plan to transform the emirate into a maritime tourism hub for the Arabian Gulf region. 

  • Published in Cruise

Eight drug busts for international naval deployment

The UK and France commanded a multinational naval task force which has scored eight drugs busts over a five-month period in the Gulf and Indian Ocean, seizing 1.75 tonnes of narcotics worth nearly £400 million (US$500 million), including 265kg of heroin and 455kg of hashish by the Royal Navy Type 23 frigate, HMS Monmouth.

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