The IRGC navy accused the tanker of having turned off its positioning and radar systems in an effort to evade detection.

The IRGC navy accused the tanker of having turned off its positioning and radar systems in an effort to evade detection.

A super tanker has caught fire after striking a sea mine in the Strait of Hormuz, Iran’s Revolutionary Guard Corps (IRGC) said on Saturday.

In a statement shared via Iranian state media, the IRGC’s navy said a tanker carrying more than two million barrels of oil struck a mine whilst “attempting to pass through an unauthorised route” in the Strait, causing a “massive explosion” and a “fierce fire.” It is unclear exactly where the incident took place.

  • Digitalprimate@lemmy.worldEnglish
    3·
    6 hours ago

    To add, the cost of damages to shipping would exceed the profits from shipping this oil throughout this war I would think. It takes a lot of trips to make 100 million in profit, let alone the opportunity cost of having them out of operation waiting for repairs, there’s a backlog in the shipyards building these already (mostly china I hear,) as I understand it.

    Current VLCC rates are about 800k / day. Average sailing times ex-Gulf to the PRC are about 30 days (including various types of delays).

    You don’t happen to have any sort of other information on these new insurance companies I can dig into do you? I guess it’s probably public information if you know where to find it.

    There are not really any new ones; that never happened. But there are plenty of bullshit ones who could never pay out. Talking about P&I (property and immunity) rather than H&M (hull and machinery. You can search Lloydslist.com and if you find any articles about this you want, ping me and I’ll send them to you.