Captain of Ship Stranded in Strait of Hormuz Tells BBC of 'Constant Pressure'
The captain of one of the cargo ships stranded for weeks in the Strait of Hormuz told the BBC that constant pressure created by US-Iran naval tensions is exhausting his crew. Uncertainty over transit permits continues to hit global energy shipping.
Speaking to the BBC, the captain said it had been 23 days since the ship dropped anchor near the Iranian coast and that his crew's food and water rations were dwindling. The owner has been unable to offer an alternative route because of insurance constraints.
Lloyd's of London has tripled the war-risk premium for ships transiting the Strait of Hormuz over the past three weeks. Shipowners are urging maritime unions to take immediate action to protect crew rights.
Brent crude closed the week above 95 dollars a barrel while Asian refineries remained under supply pressure. Investors warn a prolonged bottleneck in global energy trade could force them to price in a new inflation wave by year-end.
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