Complete Maritime Profile & Reviews of Cyprus-Prosperity

On July 7, U.S. Central Command (CENTCOM) confirmed a series of retaliatory strikes against Iran following an alarming incident involving three crude oil tankers: 'Al Rekayyat', 'Wedyan', and 'Cyprus Prosperity'. The vessels were attacked at precisely 1:05 p.m. while navigating the critical Strait of Hormuz, using unknown projectiles that caused varying degrees of damage. The 'Al Rekayyat' was notably struck on its port side, leading to a fire in the engine room, while the other two tankers experienced structural issues. Fortunately, no casualties or environmental hazards were reported, and all affected vessels were able to proceed to their designated ports or safely anchor. In a decisive response, U.S. forces targeted over 80 locations across Iran, which included air defense systems, command and control hubs, coastal radar installations, and anti-ship missile facilities. Additional efforts also focused on more than 60 fast attack boats linked to the Islamic Revolutionary Guard Corps (IRGC), operating near the strategic waterway. CENTCOM underscored that these attacks on shipping represent a violation of ceasefire agreements and jeopardize the safety of navigation through the Strait of Hormuz. U.S. military presence remains vigilant, ready to address any threats and ensure the protection of international maritime trade in the region.

A new charter has been successfully secured for the transport of 270,000 metric tons of dirty cargo from the Mideast Gulf to the East. The fixtures were finalized at a rate of WS 39, with operations scheduled to take place between February 26 and February 28. The parties involved in this significant shipping agreement are CSSSA and RPLC.

In a notable development for the oil trade, Venezuela's state-run oil company, PDVSA, has successfully arranged for a second Very Large Crude Carrier (VLCC) to transport Algerian Saharan crude oil. This agreement, forged in collaboration with Algeria's national oil corporation, Sonatrach, will see the Boston ship undertake the task of loading a substantial 270,000 metric tons of crude oil. The cargo is set to make its journey from Algeria to Venezuela, further solidifying the growing partnership between the two nations in the energy sector. Sources within the shipping industry revealed this latest arrangement on Wednesday, highlighting the strategic movements within the global oil market.