Summary
Pakistan negotiated with Iran to secure safe passage for liquefied natural gas carrier Al Mayeda before the ship was attacked near the Strait of Hormu…
What this means for you
The article reports an attack on an LNG carrier near the Strait of Hormuz despite what people with direct knowledge described as an Iranian green light hours earlier, and it says the incident underscores continued risk for vessels navigating around Hormuz. For Chinese readers in the US who follow energy and shipping costs, the practical link in the story is to LNG supply and prices: Pakistan could be forced to turn to the spot market, where prices are more than three times pre-war levels, and LNG flows through Hormuz held steady in October at about 30% of pre-war levels. The article also reports that Qatar has been using older vessels to help reduce additional insurance costs associated with the risky voyages, indicating that insurance and routing costs are part of the disruption. It does not report direct effects on US visas, immigration, jobs, education, safety, or family life for Chinese readers in the US.
Pakistan negotiated with Iran to secure safe passage for liquefied natural gas carrier Al Mayeda before the ship was attacked near the Strait of Hormuz on October 30, according to people with direct knowledge of the matter.
The Marshall Islands-flagged vessel was sailing toward the waterway loaded with LNG from Qatar when it came under fire, the people said, asking not to be named as they are not authorized to speak to the media. Just hours earlier, Iranian authorities were understood to have provided a green light, they added.
The ship subsequently turned around and headed into the Persian Gulf, according to ship-tracking data.
“Qatar reserves its right to take all necessary measures, in accordance with international law and the UN Charter, to protect its assets and safeguard its vessels and their crews,” the Qatari Foreign Ministry said in a statement on November 1, adding that authorities are investigating the incident and those responsible.
Indian Shipping Minister Sarbananda Sonowal wrote on X that the ship had been targeted in a projectile attack. He said all 25 crew members, including six Indian nationals, were safe, but didn’t provide further details. Qatar Gas Transport Company Ltd., known as Nakilat, said on November 1 that the carrier remained operational and was being assessed.
It wasn’t immediately clear why the tanker came under fire or whether it would still attempt to reach its destination. Pakistan, apparently benefiting from its ties with Iran and its role as mediator, has communicated with Iranian authorities over the safety of several other shipments of Qatari LNG over the past month, all of which crossed successfully into the Gulf of Oman.
The incident underscores the continued risk for vessels navigating around Hormuz, and poses a fresh challenge for Pakistan, which has grappled for months with an energy shortfall as a result of upheaval in the Middle East. Without the LNG shipment, Pakistan could be forced to turn to the spot market, where prices are more than three times pre-war levels.
Pakistan’s petroleum ministry, QatarEnergy and Iran’s foreign ministry didn’t immediately respond to requests for comment.
LNG flows through Hormuz held steady in October at about 30% of pre-war levels. Qatar has been sending LNG through the waterway consistently since September, including on older vessels that can help reduce the additional insurance costs associated with the risky voyages.
Source: SupplyChainBrain
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