Tankers Avoid Emirati Port as Gulf War Risk Disrupts Oil Exports

Shipping companies have grown reluctant to call at the port of Fujairah in the UAE, prompting cancellations of oil cargoes that Adnoc is then reselling at higher prices, Bloomberg has reported, citing anonymous sources. Per the report, Nippon Yusen KK and an unnamed European shipping company are among those unwilling to send their ships to Fujairah, even though the port city is outside the Strait of Hormuz—but still too close for comfort, it seems. Bloomberg noted in its report that Fujairah has been targeted several times since the war started,…