Saudi Arabia’s main shipping firm Bahri reported a 10-fold jump in third-quarter profit as its oil tanker business benefited from surging freight rates amid the Iran war.

France's military was taking a tanker suspected to be part of Russia's "shadow fleet" skirting Western sanctions to Reunion island on Tuesday in what Moscow called another act of "piracy."

Trafigura Group bought seven oil tankers from New York-listed SFL Corp., in the latest example of how trading houses and state energy companies are acquiring vessels to ship crude and products.