Shipping workers all at sea

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Why is US President Donald Trump waving a century old shipping law?

It's worth this is expressed from the BBC World Service,

Amliana Bern.

We hear what the situation is like for seafarers stuck on ships in the Gulf,

and how Indonesia is seeing the energy crisis as an opportunity.

So to tackle rising oil prices,

the Trump administration is preparing to suspend a century old shipping law.

The move would temporarily allow foreign tankers to move fuel

between US ports, boosting supplies to refineries on the US East Coast.

It comes as a round snoop supreme leader,

vows to keep blocking the strait of hormones

and his first statement released by the regime.

Emma Walls, chief investment strategist at Hargrave's Landsan.

Emma, any reaction to the oil price on this?

Not much, and it comes less than a day after the international energy agency

agreed to discharge 400 million barrels of emergency oil reserves.

Brent crude is around $100 a barrel at a moment and crude is at $96.5 a barrel.

What the oil market is saying is that although this is short-term relief,

it's very much pricing on that this war actually goes on for some time yet,

and so short-term relief isn't really enough to move the oil price significantly.

And the gas price is the same thing they keep going up?

They do indeed, and indeed so, in fact, to equity markets and bond markets,

although in the other direction, so having a look at how Asia markets have performed today

on Europe and indeed how the US is set to open, it's very negative.

I mean, not huge falls, but most markets are looking at between 1% down and 2% down on a daily basis.

And ultimately, what the equity market is saying is,

you know, this might be short-term good news,

but it's not enough for them to believe it's proper good news.

All right, Emma Wall, thank you so much for joining us.

And we've talked a lot on this show about the effect of closure of the strait of hormones,

and what it means for global energy markets and supply chains.

But we want to focus today on the risks involved in sailing those waters

or being anchored in them in what's basically a war zone.

There are sailors who are stuck on ships and whose lives are in potential peril.

The BBC has been contacting some of these sea fares and their families,

many come from Pakistan.

Here's the story of one father whose son is stuck on a ship in Iran's Kishport,

which lies around 250 kilometers west of the strait of Hormuz.

My son is stuck in Iran.

I've hidden this matter from his wife as well.

I have not told her about it.

My son is at Kishport and there are attacks happening there.

There's also a very intense attack at Kishport during the night.

There was an attack a few days ago, and the last time I spoke to my son was some three days ago.

He told us that even the Iranians had run away from there.

He also ran after them.

He ran at the time when the attack happened and three missiles were fired.

One Indian person was injured.

This is the only information we have received.

A whole family is very worried.

Union's representing sailors have been working to protect their members

who are working in the Middle East right now.

Danny McGow and his head of international relations

at the sea fares union, not all, is international.

The International Transport Workers Federation or the ITF

agreed with a grouping of shipowners and their representatives

that the area is a war-like zone.

This gives sea fares additional pay death and disability benefits,

for example, recognizing the risk that is being undertaken

by serving in that area.

Now that means that also the sea fares have a right to repatriation

from that vessel.

They may withdraw their consent to continue the voyage

if the situation materially changes,

but also the ship owner remains responsible for safe disembarkation

and repatriation as soon as practicable.

That also has to take into account poor access,

crew safety, international restrictions,

and as we've seen in the area,

the availability of commercial flights as well.

Now we've heard of some crews who don't have enough food, water,

and the ability to leave ships if they're stuck for a long period.

So what are the obligations on the ship owners if that is the case?

Under the Maritime Labor Convention or the MLC,

sea fares do have a right to food to water and to shore leave,

and that has to be a good nutritional quality.

Those rights are not suspended due to commercial pressures,

neither are they suspended due to being in a war zone.

Now, surely, of course, might be impacted

where the areas in which the sea fares are stationed

are active war zones.

There also may be the case if sea fares are anchor away from the shore,

but that still doesn't restrict or remove the responsibility

of the ship owners and operators to provide the sea fares

with food and water and to provide them with a safe working environment as well.

And Danny, from the conversations you're having with crews,

how worried are sea fares right now?

Sea fares are in fear.

Of course, those particularly that are in the area

will have very real fears of being attacked.

These are not faceless sea fares in a distant part of the world.

They're people's mothers, fathers, sons and daughters,

and all have families who will naturally fear for them as well.

But there will also be those who will fear for their job security

and they might feel pressured to stay on board in this area

or even to take unacceptable risks,

such as transiting this area under pressure

from ship owners, operators, or others in the industry.

I was down here in McGown from the Nautilus International Union.

The best B2B marketing gets wasted on the wrong people.

So when you want to reach the right professionals, use LinkedIn ads.

LinkedIn has grown to a network of over one billion professionals,

including 130 million decision makers,

and that's where it stands apart from other ad buys.

You can target your buyers by job title, industry,

company, role, seniority, skills, company revenue,

so you can stop wasting budget on the wrong audience.

It's why LinkedIn ads generates the highest B2B return on ad spend

of major ad networks.

Spend $250 on your first campaign on LinkedIn ads

and get $250 credit for the next one.

Just go to LinkedIn.com slash broadcast.

That's LinkedIn.com slash broadcast.

Terms and conditions apply.

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Because Maddox joined,

Este Lauder companies is suing Joe Malone,

the British perfumer for using her name in a collaboration with Zara.

Este Lauder bought Joe Malone London,

including the rights to her name back in 1999.

But Malone's new brand, Joe Love,

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While some countries in Southeast Asia have introduced fuel price caps,

Indonesia is keeping fuel prices artificially low

through government subsidies, at least until EED.

At the same time, its president has said

the situation could pave the way for energy self-sufficiency

through green fuel.

Last year, Carthopathy is a reporter with BBC Indonesia.

She told me what the country's fuel situation is like right now.

Indonesia has produced its own fuel,

but it's also import fuel from neighboring countries,

such as Malaysia and Singapore,

and also from the Middle East.

Since the war in Iran,

the distribution of fuel is worried to be halted.

But our government is now having a new way of approach with this.

This could pave way into the independence

of making its own biofuel.

That's really interesting.

And also, the government plans to keep the subsidized fuel prices low for now.

How does subsidized fuel work there?

Indonesia has divided its fuel for consumers.

We have subsidized fuel for low-income people.

The price is around $10,000 rupee or less than a dollar.

For the premium fuel, it's around $15,000 to $16,000 now,

or $1.00 and a half.

So, the President, do you really thinking that this time of volatile energy prices,

it's essentially providing an opportunity for Indonesia?

Our President now, Provost Piento, believes that

Indonesia can produce fuel domestically using palm oil,

cassava, corn, and sugar cane.

And how realistic do you think that is?

So, for now, Indonesia is the third biggest biofuel producers in the world.

Since last year, Indonesia is rolling out B40,

which is the mix of 40% biofuel and biodiesel.

And it will be rising to B50, which is the mixer will be 50% this year.

And by next year, it will be B60.

But this rising in B50 could trigger

a differentiation because it needs new palm plantations.

And also, Indonesia needs to gain millions of hectares for plantations from forests.

That was last year, Kertipathy from BBC Indonesia.

And if you want the latest on the US-Israel war with Iran,

check out the BBC website, which is running our live page with all the latest updates.

And that is it from World Business Express from the BBC World Service.

I'm Leana Burn, have a great day, and thanks so much for listening.

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