Oil -shipping companies stop their services in Middle East with the fire of war

Some oil tankers and oil tankers have stopped working on the paths to the Middle East since Friday, in light of their assessment of the dangers due to the conflict between Israel and Iran, which raises concerns about the flow of oil exports from the region. They asked not to disclose their identities because they did not obtain a permit to speak in public, that producers and traders trying to discuss ships to load crude oil and fuel from the Arab Gulf have a shortage of available offers. At the same time, one of them said that some of the owners of the carriers, whose ships were initially hired until Friday, pending the confirmation of the discussion, decided not to expand the agreements during the weekend. Worldwide monitoring of the stability of shipping, although the possibility of the failure of supplies or for a long time is still weak, but the stability of the shipping movement within the Middle East and around it will be the subject of accurate follow -up by the global oil market in the coming weeks. The region produces about a third of the world’s oil production, and the most important exporters such as Saudi Arabia and the UAE do not have a large margin to deduce their exports if the shipping movement is affected by the Persian Gulf. Military escalation and monitoring of the street of hormuz with the escalation of hostilities, including the Israeli strikes that targeted the energy infrastructure and core institutions in Iran, which closely watched the owners of oil tankers by navigating by the street of Hormuz to the Persian Gulf. Although no conversion has been monitored to shipping roads so far, the owners are regular to agree on the delivery trips in the Gulf, which paves the possibility of high ship prices and disorders in the maritime transport movement. Freight and recharge brokers said that ship prices on the “TD3C” or TD3C in the Baltic Stock Exchange, for giant tankers that sailed between the Middle East and China, reached 55 and 58 points on the “world” scale on Friday, an increase between 20% and 30% at the beginning of the week. The fear of a greater increase in ship prices, despite the lack of accurate price estimates on Monday due to limited public discussions in the market, indicates that the scale has risen to about 65 points, according to their saying. The “dot peel” points indicate a percentage of a fixed basic price, which is determined at the beginning of each year for every major delivery path. The future shipping contracts, a derivative financial instrument that enables buyers to install future ship prices, reflects the state of caution in the sector. Future levy contracts have increased, derived from financial instruments that enable buyers to install future ship prices, referring to the state of caution prevailing in the sector. The TD3 C index on the Baltic Stock Exchange rose to about $ 14 a tonne on Monday, compared to about $ 11 before the Israeli attacks were carried out on Iran.