Egypt extends condolences to victims of Ukrainian military plane crash    Indian court acquits all accused in razing of Babri mosque    Mostafa Rizq gives a concert at El-Sawy Culturewheel    Why create new viruses?    Egypt to guarantee funding for national carrier Egyptair    The colours of the tabla    Fighting for a seat    Why is Nasser still popular?    Promoting ecotourism    Land use and environmental impacts    The facts about Mostorod    Nile blessings in disguise    Edward Said    Editorial: Time to rebuild    Crown prince becomes oil-rich Kuwait's new ruling emir    Tennis: Egypt's Mayar Sherif exits French Open knowing she belongs at Slams    Mali call up Doucoure and Adama Traore for friendly internationals    Liverpool coach Klopp bristles at Keane's 'sloppy' criticism after Arsenal win    Egyptian insurance companies' premiums 9.6% up in five months    Egypt's President Sisi names new head of anti-corruption watchdog    Egypt's c.bank offers 18 bln pounds T-bills on Sunday    EgyptAir offering discounts for some international flights    Egypt records 212 new coronavirus cases, 14 deaths on Saturday    Egypt to require PCR coronavirus tests for airport travelers    Egypt sends 125 tonnes of glass by sea to Beirut    Legend Messi officially wants to leave Barcelona, hands transfer request    Global smartphone sales drop 20% in Q2, yet Apple's iPhone sales steady    Sisi: Egypt keen on establishing development projects with Iraq, Jordan    Egyptian megastar Amr Diab releases new hit music video    Making of Harry Potter will be available for fans at new park in Tokyo    Egypt's Senate elections official results to be announced Wednesday    Netflix Egypt is bringing megastar Amr Diab back with a new original    Egypt reopens Rafah border crossing for first time since April    Egypt's senate elections 2020 trending on social media in few days    African Champions League final will be played on Oct. 16-17, CAF says    No room to delay Egyptian Premier League games – EFA's board member    The Facebook Preacher's Search for Fame, and Egypt's Economy    Egypt calls on UNSC to address oil spill risks off Yemen coast    Egypt economically strong in face of COVID-19, reforms ongoing: International Cooperation Minister    Arafa Holding reports $144,000 COVID-19-related losses in April    Egypt's efforts in Libya to activate free will of Libyan people: Al-Sisi    Hyksos campaigns were internal takeover, not foreign invaders: study    COVID-19 affects Egypt sporting clubs    COVID-19 will soon turn to seasonal like swine flu: Presidential Health Advisor    ‘Egypt's Support' coalition convenes to discuss its Senate election list    Robbery attempt leads to discovery of Ptolemaic monuments in Qena    Flouting international guidance, Ethiopia unilaterally starts filling its Nile dam    Zaha speaks out after online racial abuse    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.





Iran under accusations of Gulf of Oman tankers' attack
Published in Daily News Egypt on 27 - 06 - 2019

Bernhard Schulte Shipmanagement (BSM) said on Friday that its chemical tanker Kokuka Courageous, which was attacked in the Gulf of Oman on Thursday, is being towed toward Khor Fakkan, in the UAE, with its crew back onboard.

In a statement, the BSM said that the Kokuka Courageous "was now undertow and headed toward Khor Fakkan having sustained damage to the vessel's starboard side." The vessel was stable and there was no loss of cargo or danger of sinking.

"With the assistance of the United States navy, our crew have now returned to the Kokuka Courageous and have restored emergency power onboard," the BSM added in the statement.

They also said that "one crew man from the Kokuka Courageous was slightly injured in the incident and has received first aid treatment. He is now back onboard the Kokuka Courageous."

Speaking at press conference in Tokyo, Yutaka Katada, president of the Kokuka Sangyo shipping company said that, the 2010 crew built 27,000 dwt chemical tankers. He told the company that something came flying at the ship, and they found a hole.

Some crew members witnessed the second shot, he shared.

Katada explained there was no possibility that the ship, carrying 25,000 tonnes of methanol, was hit by a torpedo.

Iran fingerprints

On Thursday morning, two vessels of BSM (Kokuka Courageous and Front Altair) were attacked in the Gulf of Oman raising the spectre of disruption to trade in the Straits of Hormuz, one of the world's key waterways. The attack has been widely condemned.

The attacks on Japan-related tankers occurred while the Japanese Prime Minister, Shinzo Abe, was in a meeting with Iran's leader, Ayatollah Khamenei, for "extensive and friendly talks".

The US warship, USS Bainbridge, and the merchant vessel, Coastal Ace, rescued the 21 crew members on the Kokuka Courageous following the attack.

Meanwhile, the US navy has published a video showing an Iranian patrol boat removing an unexploded limpet mine from the Kokuka Courageous following the attack.

"At 4:10 pm local time, an IRGC Gashti Class patrol boat approached the Kokuka Courageous and was observed and recorded removing the unexploded limpet mine from the Kokuka Courageous," the US navy said in a statement.

Despite the fact that the exact cause of the attacks remain unknown, US President Donald Trump accused Iran of attacking the two tankers, telling FOX news TV station that "Iran did do it and you know they did it because you saw the boat."

The UAE Minister of Foreign Affairs and International Cooperation, Abdullah bin Zayed Al Nahyan, said that "Iran's fingerprints were clear on the attacks," Arabiya TV reported on Saturday.

Moreover, the UK also blamed Iran for the attack saying that it is impossible for any other country or organisation to take such action.

In a statement, the British Secretary of State, Jeremy Hunt, said that the attack violates international laws and he called on Iran to stop all activities that may disturb the Middle East.

Denial, calls for investigation

Iran's Ministry of Foreign Affairs said that the video does not prove anything and that it is being used as a scapegoat. Iran accused the US and its Gulf allies, such as Saudi Arabia and UAE, of warmongering.

The Iranian Minister of Foreign Affairs, Mohammad Javad Zarif, tweeted that the "unilateral US actions and its economic terrorism on Iran—are solely responsible for insecurity & renewed tension in our region."

On Friday, the UN Secretary-General, Antonio Guterres, called for an independent investigation on the attack. He added that "at the present moment, we don't see a mechanism of dialogue possible to be in place."

"It's very important to know the truth and it's very important that responsibilities are clarified. Obviously, that can only be done if there is an independent entity that verifies those facts," Guterres told reporters.

Energy shock

Despite the 2% hike in the price of barrel of Brent crude on Thursday following the attack, on weekly terms oil futures suffered a loss. So far oil prices have only reacted minimally, rising little more than $1 a barrel.

At the end of Friday trading, Brent crude added 70 cents, or 1.1%, to $62.01 a barrel, bringing Brent price loss to 2% for the week.

Prior to the Gulf of Oman attack, oil prices had already dropped 20% over a six-week period, slumping below $60 per barrel mark, despite peaking at $75 a month earlier.

According to the International Energy Agency report issued on Friday, two main factors are behind the price decline, first of which is the US-China trade war, which reduces the global oil demand growth forecast.

The report explains that geopolitical risks can support oil prices and could lead to sharp spikes.

The second reason behind the lower prices is the increase in supply on the back of high US shale oil production which means that there is little problem in meeting demand.

As an oil exporter, Egypt is highly vulnerable to crude oil price fluctuations, as each $1 increase in the Brent crude's price would cost the state EGP 4bn, according to the country's finance ministry.

Egypt's new draft budget sets the price of Brent crude at $68 per barrel, up from $67 per barrel in the current fiscal year. In the 2017/18 budget, the price of an oil barrel globally was set at $55.


Clic here to read the story from its source.