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[quote=Anonymous]Looks like there won’t be relief from gas and oil shortages:

Jillian Ambrose, The Guardian
The US-Israeli ceasefire with Iran is unlikely to lead to a swift exit for the hundreds of oil and gas tankers trapped in the Gulf, according to shipping experts.

One seafarer who is aboard an oil tanker stranded behind the strait of Hormuz told the Guardian that shipping companies would require more certainty before they attempt to transit the strait.

“We’re at anchor, near dozens of loaded tankers. No one has moved an inch,” they said.

The seafarer said that bulk carriers, loaded with dry bulk such as cars and containers, had begun to move towards the Gulf but that major shipping companies would be unlikely to move oil and gas tankers without the go-ahead from insurance companies.

“No reputable company, with any links to EU countries, will risk moving without Lloyds and major insurers saying that they can,” they said.

“Transiting the strait will require more certainty; insurers will need to agree to insure these cargoes and there would need to be a better understanding of how to pay “toll fees” to a country which is still officially sanctioned.”

It will take several days before the impact of the truce on shipping becomes clear, according to Torbjorn Soltvedt, an analyst at risk intelligence company Verisk Maplecroft.

“Before the war, daily transits through the strait of Hormuz exceeded 100 ships per day and any increase from the trickle of ships currently passing the strait is likely to be gradual,” Soltvedt said.

“Two weeks will not be enough to clear the backlog even if there is a marked increase in traffic.”[/quote]

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