Iran blacklists 45 ships over Hormuz

Iran announced on Sunday a blacklist of 45 ships it said had broken its rules for crossing the Strait of Hormuz, and threatened action against any vessels transferring loads with them. This escalation, six months into the U.S.-Israeli war on Iran, is designed to impede shuttle runs by Gulf producers like Saudi Arabia and the UAE that use ship-to-ship transfers in the Gulf of Oman to keep oil flowing despite Iran's clampdown. At least three Indian oil refiners and a global energy major plan to stop using blacklisted vessels due to security concerns. Several charterers and shipping firms are evaluating whether to continue STS operations. Some blacklisted tankers are owned or chartered by Saudi Aramco and ADNOC. Iran has previously attacked tankers including the Wedyan, Kenya — Mombasa, and United Arab Emirates — Al Bahyah. The Persian Gulf Strait Authority, a new Iranian body, warned of fines, detention, and cargo confiscation. Analysts warn of contagion, reduced pool of willing shipowners, and higher freight, insurance, and risk premia.