'External source' causes oil tanker blast off Saudi Arabia - Insurance News | InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Newswires
Topics
    • Advisor News
    • Annuity Index
    • Annuity News
    • Companies
    • Earnings
    • Fiduciary
    • From the Field: Expert Insights
    • Health/Employee Benefits
    • Insurance & Financial Fraud
    • INN Magazine
    • Insiders Only
    • Life Insurance News
    • Newswires
    • Property and Casualty
    • Regulation News
    • Sponsored Articles
    • Washington Wire
    • Videos
    • ———
    • About
    • Meet our Editorial Staff
    • Advertise
    • Contact
    • Newsletters
  • Exclusives
  • NewsWires
  • Magazine
  • Newsletters
Sign in or register to be an INNsider.
  • AdvisorNews
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Exclusives
  • INN Magazine
  • Insurtech
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Video
  • Washington Wire
  • Life Insurance
  • Annuities
  • Advisor
  • Health/Benefits
  • Property & Casualty
  • Insurtech
  • About
  • Advertise
  • Contact
  • Editorial Staff

Get Social

  • Facebook
  • X
  • LinkedIn
Newswires
Newswires RSS Get our newsletter
Order Prints
December 14, 2020 Newswires
Share
Share
Post
Email

'External source' causes oil tanker blast off Saudi Arabia

Associated Press

DUBAI, United Arab Emirates (AP) — An oil tanker off Saudi Arabia's port city of Jiddah suffered an explosion early Monday after being hit by “an external source,” a shipping company said, suggesting another vessel has come under attack off the kingdom amid its yearslong war in Yemen.

The apparent attack on the Singapore-flagged BW Rhine, which had been contracted by the trading arm of the kingdom's massive Saudi Arabian Oil Co., marks the fourth assault targeting Saudi energy infrastructure in a month. It also apparently shut down Jiddah port, the most-important shipping point for the kingdom.

It also renews concerns about ship safety in the Red Sea, a crucial transit zone for global shipping and energy supplies that largely had avoided the chaos of regional tensions involving the U.S. and Iran last year.

The BW Rhine had berthed at Jiddah on Saturday, carrying over 60,000 metric tons of unleaded gasoline from an Aramco refinery at Yanbu for consumption in the kingdom, according to the data-analysis firm Refinitiv. It was there that the incident appears to have occured.

The ship was “been hit from an external source whilst discharging,” said Haifna, a tanker company under the BW Group that owns and operates the ship.

The strike caused an explosion and fire onboard the ship, though all 22 sailors on board escaped without injury and firefighters later extinguished the blaze, Haifna said. Some oil may have polluted the water along the ship, though the company said it was still assessing the damage.

Saudi Arabia had not acknowledged the blast hours later.

The United Kingdom Marine Trade Operations, an organization under Britain’s royal navy, urged ships in the area to exercise caution and said investigations were ongoing. It later said Jiddah port had been shut down for a “duration unknown,” without elaborating.

Dryad Global, a maritime intelligence firm, also reported the blast. The U.S. Navy’s 5th Fleet, which patrols the Mideast, did not respond to a request for comment.

No one immediately offered a cause for the incident. However, the explosion comes after a mine exploded and damaged a ship off Saudi Arabia last month. Another mysterious attack targeted a cargo ship off the small port city of Nishtun in Yemen’s far east earlier this month.

Yemen's Iranian-backed Houthi rebels have used sea mines before in their long war against a Saudi-led coalition. However, the Houthis have not commented last month's attack.

Dryad Global said if it was the Houthis behind Monday's blast, it “would represent a fundamental shift in both targeting capabilities and intent."

Since mid-November, there's also been what Saudi Arabia described as a bomb-laden drone boat attempted attack at Jazan, as well as a cruise missile attack claimed by the Houthis that struck an Aramco oil facility in Jiddah.

The incidents come after tensions between the U.S. and Iran last year saw a series of escalating incidents in the Persian Gulf, the Strait of Hormuz and the nearby Gulf of Oman. While the U.S. has put together a new coalition to monitor shipping there after those incidents, it doesn't operate in the Red Sea.

In recent weeks, an attack in Iran killed a prominent scientist who founded Tehran's military nuclear program two decades ago, an assault suspected to have been carried out by Israel.

The attack nudged up oil prices, which already had been rising in recent days as Western countries begin distributing coronavirus vaccines. Benchmark Brent crude stood above $50 a barrel in trading Monday.

The Red Sea, with the Suez Canal to the north and the Bab el-Mandeb Strait to the south, is a vital shipping lane for both cargo and global energy supplies. Its currents change seasonally and now run north. Saudi Arabia recently accused the Houthis of dumping mines into the southern Red Sea, which could be carried toward Jiddah.

The Red Sea has been mined previously. In 1984, some 19 ships reported striking mines there, with only one ever being recovered and disarmed, according to a U.N. panel of experts investigating Yemen’s war. Any new mining could endanger global shipping and be difficult to find for any minesweeping operation — raising the risks and potentially the cost of insurance for those sailing in the region.

“The series of escalations in the Red Sea will certainly raise the risk profile of the region,” said Ranjith Raja, the head of Middle East and North Africa oil and shipping research at Refinitiv. “This could in turn also increase the insurance premiums for added protection on vessels operating in the region, which would have an impact on the cost of shipment.”

Follow Jon Gambrell on Twitter at www.twitter.com/jongambrellAP.

Older

Cost of Assistance Estimates in the Disaster Declaration Process for the Public Assistance Program

Newer

Budget Toll From Virus Hits Both Democratic, GOP-Led States

Advisor News

  • The modern advisor: Merging income, insurance, and investments
  • Financial shocks, caregiving gaps and inflation pressures persist
  • Americans unprepared for increased longevity
  • More investors will seek comprehensive financial planning
  • Midlife planning for women: why it matters and how advisors should adapt
More Advisor News

Annuity News

  • LIMRA: Annuity sales notch 10th consecutive $100B+ quarter
  • AIG to sell remaining shares in Corebridge Financial
  • Corebridge Financial, Equitable Holdings post Q1 earnings as merger looms
  • AM Best Assigns Credit Ratings to Calix Re Limited
  • Transamerica introduces new RILA with optional income features
More Annuity News

Health/Employee Benefits News

  • SENATE APPROVES BILL TO LIMIT PREMIUM INCREASES, PROTECT ACCESS TO HEALTHCARE
  • All about AHCCCS: Navigating Arizona Medicaid’s changing landscape
  • GOVERNOR SIGNS BIOMARKER TESTING COVERAGE BILL
  • REGULATION OF AI IN PRIOR AUTHORIZATION AND CLAIMS REVIEW: A LOOK AT FEDERAL AND STATE CONSUMER PROTECTIONS
  • LEADING HEALTH ORGANIZATIONS URGE NC LAWMAKERS TO RECONSIDER PROPOSAL IMPLEMENTING MEDICAID CUTS
More Health/Employee Benefits News

Life Insurance News

  • 2025 Insurance Abstracts
  • AM Best Assigns Credit Ratings to Tokio Marine Newa Insurance Co., Ltd.
  • Earnings roundup: Prudential works to save ‘unique’ Japanese market
  • How life insurance became a living-benefits strategy
  • Financial Focus : Keep your beneficiary choices up to date
More Life Insurance News

- Presented By -

NEWS INSIDE

  • Companies
  • Earnings
  • Economic News
  • INN Magazine
  • Insurtech News
  • Newswires Feed
  • Regulation News
  • Washington Wire
  • Videos

FEATURED OFFERS

Why Blend in When You Can Make a Splash?
Pacific Life’s registered index-linked annuity offers what many love about RILAs—plus more!

Life moves fast. Your BGA should, too.
Stay ahead with Modern Life's AI-powered tech and expert support.

Bring a Real FIA Case. Leave Ready to Close.
A practical working session for agents who want a clearer, repeatable sales process.

Discipline Over Headline Rates
Discover a disciplined strategy built for consistency, transparency, and long-term value.

Inside the Evolution of Index-Linked Investing
Hear from top issuers and allocators driving growth in index-linked solutions.

Press Releases

  • Sequent Planning Recognized on USA TODAY’s Best Financial Advisory Firms 2026 List
  • Highland Capital Brokerage Acquires Premier Financial, Inc.
  • ePIC Services Company Joins wealth.com on Featured Panel at PEAK Brokerage Services’ SPARK! Event, Signaling a Shift in How Advisors Deliver Estate and Legacy Planning
  • Hexure Offers Real-Time Case Status Visibility and Enhanced Post-Issue Servicing in FireLight Through Expanded DTCC Partnership
  • RFP #T01325
More Press Releases > Add Your Press Release >

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

Topics

  • Advisor News
  • Annuity Index
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • From the Field: Expert Insights
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Magazine
  • Insiders Only
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Washington Wire
  • Videos
  • ———
  • About
  • Meet our Editorial Staff
  • Advertise
  • Contact
  • Newsletters

Top Sections

  • AdvisorNews
  • Annuity News
  • Health/Employee Benefits News
  • InsuranceNewsNet Magazine
  • Life Insurance News
  • Property and Casualty News
  • Washington Wire

Our Company

  • About
  • Advertise
  • Contact
  • Meet our Editorial Staff
  • Magazine Subscription
  • Write for INN

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2026 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • InsuranceNewsNet Magazine

Sign in with your Insider Pro Account

Not registered? Become an Insider Pro.
Insurance News | InsuranceNewsNet