Greek Shipper GasLog Says LNG Tanker Stable after Strait of Hormuz Incident

A view of the Gaslog Salem vessel at sea off the coast of Geoje, South Gyeongsang Province, South Korea, February 7, 2015. Vladimir Tonic/Handout via REUTERS/File Photo
A view of the Gaslog Salem vessel at sea off the coast of Geoje, South Gyeongsang Province, South Korea, February 7, 2015. Vladimir Tonic/Handout via REUTERS/File Photo
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Greek Shipper GasLog Says LNG Tanker Stable after Strait of Hormuz Incident

A view of the Gaslog Salem vessel at sea off the coast of Geoje, South Gyeongsang Province, South Korea, February 7, 2015. Vladimir Tonic/Handout via REUTERS/File Photo
A view of the Gaslog Salem vessel at sea off the coast of Geoje, South Gyeongsang Province, South Korea, February 7, 2015. Vladimir Tonic/Handout via REUTERS/File Photo

A liquefied natural gas vessel controlled by Greek shipping company GasLog was stable after an incident while exiting the Strait of Hormuz, with everyone on board safe and accounted for, the company said.
An "incident" had occurred on its Gaslog Shanghai LNG vessel on July 31, said GasLog in a statement. It did not provide details about the incident or whether the ship or its cargo had sustained any damage.
"GasLog LNG Services immediately activated their emergency plan, notified all relevant authorities, and is currently assessing the condition of the vessel ‌and assure ‌the safety of our people," the statement said.
The Gaslog ‌Shanghai ⁠had loaded an ⁠LNG cargo at Qatar's Ras Laffan export terminal on July 27-28, according to ship-tracking data from analytics firms Kepler and LSEG.
The vessel was observed inside the Strait of Hormuz on July 31, before reappearing outside the waterway on August 2, the data showed. Ship-tracking data show the vessel is currently off Oman's Musandam Peninsula, just outside ⁠the entrance to the Strait of Hormuz.
The Strait of Hormuz is a critical shipping ‌route for oil and LNG exports from Gulf producers. Nearly ‌a fifth of global LNG passes through the waterway.

Iran has largely closed the Strait of Hormuz since the start of the war with the United States which ‌started in February, causing energy prices to rise and stoking broader global inflation.
On Saturday, the United Kingdom ⁠Maritime Trade ⁠Operations (UKMTO) said it received reports of two maritime incidents off Oman, including one in which a tanker was struck by an unknown projectile. Both incidents occurred off Oman's Musandam Peninsula.
On Sunday, the UKMTO said it had received a report from the master of a tanker of an explosion in close proximity to the vessel about 20 nautical miles northeast of Khasab, Oman. The vessel and its crew were reported safe, it said.
The previous reported incident involving an LNG tanker near the Strait of Hormuz occurred on July 7, when a projectile strike on the Qatari vessel Al Rekayyat caused a fire in its engine room, prompting the evacuation of its crew.



Gold Rises as Traders Reassess Positions after Fed Rate Hike, Oil Rally Eases

Gold bracelets and necklaces displayed for sale at a gold shop in Istanbul's Grand Bazaar (AFP)
Gold bracelets and necklaces displayed for sale at a gold shop in Istanbul's Grand Bazaar (AFP)
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Gold Rises as Traders Reassess Positions after Fed Rate Hike, Oil Rally Eases

Gold bracelets and necklaces displayed for sale at a gold shop in Istanbul's Grand Bazaar (AFP)
Gold bracelets and necklaces displayed for sale at a gold shop in Istanbul's Grand Bazaar (AFP)

Gold climbed more than 1% on Thursday as a softer dollar and easing oil prices lent support, while investors assessed the Federal Reserve's latest rate hike and prospects for further policy tightening.

Spot gold was up 1.2% at $4,312.05 per ounce, as of 0848 GMT, after hitting a near six-week low on Wednesday. US gold futures for December delivery were down 0.8% ‌to $4,351, said Reuters.

"I suspect ‌the market may have gotten itself over ‌positioned on ⁠the expectation of ⁠a rate hike, as the likelihood grew. And now that it's happened, those positions are being squared out," said independent analyst Ross Norman.

Meanwhile, the dollar eased from a seven-week high, making greenback-priced bullion more affordable for holders of other currencies, while oil prices extended their fall on diminishing fears of supply disruptions.

The Fed raised ⁠rates on Wednesday and flagged more hikes ‌in the coming months, with new ‌chief Kevin Warsh joining a unanimous decision that effectively acknowledges the Trump administration's ‌inability so far to control inflation that policymakers worry could ‌worsen.

Although gold is considered an inflation hedge, a high interest rate environment reduces its appeal by boosting the attractiveness of interest-bearing assets.

The Bank of England looks set to keep rates on hold on Thursday, while ‌the Bank of Japan could raise interest rates to a 31-year high on Friday.

"The Fed ⁠is tightening ⁠policy at a time when inflation is being driven primarily by energy prices and supply shocks, meaning higher interest rates could weaken growth without quickly resolving all price pressures," said Linh Tran, Market Analyst at XS.com.

"This environment remains supportive of demand for gold as a hedge, particularly while geopolitical uncertainty persists."

Spot silver rose 1.4% to $63.83 per ounce, platinum firmed 1.2% to $1,772.19 and palladium climbed 1.8% to $1,291.89.


Trump Warns EU of Tariffs over Canada's Potential Associate Membership

President Donald Trump speaks to reporters at Charlotte Douglas International Airport, Wednesday, Sept. 16, 2026, in Charlotte, N.C. (AP Photo/Alex Brandon)
President Donald Trump speaks to reporters at Charlotte Douglas International Airport, Wednesday, Sept. 16, 2026, in Charlotte, N.C. (AP Photo/Alex Brandon)
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Trump Warns EU of Tariffs over Canada's Potential Associate Membership

President Donald Trump speaks to reporters at Charlotte Douglas International Airport, Wednesday, Sept. 16, 2026, in Charlotte, N.C. (AP Photo/Alex Brandon)
President Donald Trump speaks to reporters at Charlotte Douglas International Airport, Wednesday, Sept. 16, 2026, in Charlotte, N.C. (AP Photo/Alex Brandon)

US President Donald Trump has threatened to take action against the EU if it moved forward with European Commission President Ursula von der Leyen's proposal to make Canada the bloc's first associate member.

"If they do that, if I think it's at all ⁠a hostile act, ⁠I will put very serious tariffs or stop trading with Europe on many things," Trump told reporters en route to ⁠an event in North Carolina, calling the proposal "laughable."

"And so, if they do that, if Europe does that with a bad intention, if it's a good intention, that's fine. If it's a bad intention, we'll put very heavy tariffs ⁠on ⁠Europe."

Von der Leyen announced the proposal on Wednesday during her annual State of the Union speech, attended by Canadian Prime Minister Mick Carney, as she sought to deepen ties among allies in what she called "an openly hostile world.”


Riyadh Global Medical Biotechnology Summit Concludes with Agreements Exceeding SAR5 Billion

The fourth edition of the Riyadh Global Medical Biotechnology Summit 2026 concluded on Wednesday. (SPA)
The fourth edition of the Riyadh Global Medical Biotechnology Summit 2026 concluded on Wednesday. (SPA)
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Riyadh Global Medical Biotechnology Summit Concludes with Agreements Exceeding SAR5 Billion

The fourth edition of the Riyadh Global Medical Biotechnology Summit 2026 concluded on Wednesday. (SPA)
The fourth edition of the Riyadh Global Medical Biotechnology Summit 2026 concluded on Wednesday. (SPA)

The fourth edition of the Riyadh Global Medical Biotechnology Summit 2026 concluded on Wednesday with more than 40 agreements, initiatives and announcements unveiled through partnerships, programs and projects with a combined estimated value exceeding SAR5 billion.

The initiatives aim to advance biotechnology localization and strengthen its healthcare and economic impact, the Saudi Press Agency said.

The summit drew delegations and experts from more than 57 countries and more than 200 speakers. The total number of visitors and registrants exceeded 15,000.

Its program included more than 80 sessions, along with seven high-level executive sessions, covering artificial intelligence, genomics, vaccines, biomanufacturing, advanced therapies, investment, and talent development.

The Life Sciences Innovation Forum attracted five specialized investment funds that expressed readiness to invest more than $120 million in promising opportunities and companies.

Meanwhile, the Next Generation Biotechnologist Forum focused on empowering early-career researchers and scientists.

The accompanying exhibition spanned more than 6,000 square meters and featured more than 120 sponsors and exhibitors, including international pavilions from Spain, China, Japan, Germany, the United States of America, and the Republic of Korea.