{"id":70553,"date":"2023-05-04T00:00:00","date_gmt":"2023-05-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2023\/05\/04\/iran-seizes-another-oil-tanker-bed-bath-beyond-seeks-to-recoup-mns-of-usd-to-pay-off-creditors\/"},"modified":"2023-05-04T00:00:00","modified_gmt":"2023-05-04T00:00:00","slug":"iran-seizes-another-oil-tanker-bed-bath-beyond-seeks-to-recoup-mns-of-usd-to-pay-off-creditors","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2023\/05\/04\/iran-seizes-another-oil-tanker-bed-bath-beyond-seeks-to-recoup-mns-of-usd-to-pay-off-creditors\/","title":{"rendered":"Iran seizes another oil tanker + Bed Bath &#038; Beyond seeks to recoup mns of USD to pay off creditors"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">Iran seizes second oil tanker in a week, according to US Navy: <\/span><span style=\"\">Iran has seized a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/cb42b0a4-14f6-426d-a07e-3e05cda9e213\" style=\"\">second foreign oil tanker<\/a><\/span><span> in the Gulf within a week. Oil tanker Niovi was sailing under the Panamanian flag when it was seized by Iran\u2019s Islamic Revolutionary Guard Corps Navy while passing through the Strait of Hormuz. The tanker was transiting from Dubai to Fujairah when it was seized. The oil ship was seized based on a court order following a plaintiff\u2019s complaint, Tehran\u2019s prosecutor said in its initial statement, according to the Iranian judiciary\u2019s <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.mizanonline.ir\/fa\/news\/4710710\/%D9%86%D9%81%D8%AA%DA%A9%D8%B4-%D9%86%DB%8C%D9%88%D9%88%DB%8C-%D8%AF%D8%B1-%D9%BE%DB%8C-%D8%B4%DA%A9%D8%A7%DB%8C%D8%AA-%D8%B4%D8%A7%DA%A9%DB%8C-%D9%88-%D8%AF%D8%B3%D8%AA%D9%88%D8%B1-%D9%85%D9%82%D8%A7%D9%85-%D9%82%D8%B6%D8%A7%DB%8C%DB%8C-%D8%AA%D9%88%D9%82%DB%8C%D9%81-%D8%B4%D8%AF%D9%87-%D8%A7%D8%B3%D8%AA\" style=\"\">Mizan<\/a><\/span><span> news agency. No further details were provided. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.foxnews.com\/world\/iran-seizes-second-oil-tanker-week-us-navy-says\" style=\"\">Fox News<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/world\/second-oil-tanker-week-seized-by-iran-gulf-us-navy-2023-05-03\/\" style=\"\">Reuters<\/a><\/span><span style=\"font-weight:400;\">) <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">REFRESHER- <\/span><span>The US and Iran have been engaging in a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/cb42b0a4-14f6-426d-a07e-3e05cda9e213\" style=\"\">tit-for-tat seizure<\/a><\/span><span> of oil tankers, with the US confiscating an Iranian tanker last week and Iran responding by capturing a US-bound vessel carrying Kuwaiti crude shortly after.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Bed Bath & Beyond seeking damages from Hong Kong shipping company:<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bedbathandbeyond.com\/\" style=\"\">Bed<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bedbathandbeyond.com\/\" style=\"\">Bath & Beyond<\/a><\/span><span> is seeking over USD 31.7 mn from Hong Kong-based Orient Overseas Container Line, filing a complaint with US Federal Maritime Commission claiming that the shipping line abandoned its commitments during last year\u2019s <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/markets\/us\/us-works-with-firms-supply-chains-ease-port-congestion-2022-08-10\/\" style=\"\">supply chain turbulence<\/a><\/span><span> in the US, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wsj.com\/articles\/bankrupt-bed-bath-beyond-seeks-millions-from-ocean-carriers-4ec09c00\" style=\"\">the Wall Street Journal<\/a><\/span><span> reports<\/span><span style=\"font-weight:400;\">. The filing claims that the container line\u2019s \u201cbrazen price gouging and profiteering\u201d cost the company some USD 31.7 mn in extra freight charges, along with additional charges and foregone income. The filing with the US maritime regulator comes days after the company filed for chapter 11 bankruptcy and began winding down operations. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">But that\u2019s not all: <\/span><span>Last month, Taiwan-based Yang Ming Marine Transport filed a suit to block Bed Bath & Beyond from pursuing a claim of USD 7.8 mn over breach of contract, t<\/span><span>he Wall Street Journal notes<\/span><span style=\"font-weight:400;\">. Bed Bath & Beyond is looking to recoup as much funds as it can to pay off its creditors after filing for bankruptcy. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The US and Iran have been playing Battleship with oil tankers<\/p>\n","protected":false},"author":1,"featured_media":70554,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[149],"tags":[148,859,17,119],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-70553","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-around-the-world","tag-around-the-world","tag-bed-bath-beyond","tag-enterprise-logistics","tag-iran","wpautop","entry"],"acf":{"mongo_id":"3a66e639-5dfc-4c88-ad04-817838fab50f","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/5\/243.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Iran seizes another oil tanker + Bed Bath & Beyond seeks to recoup mns of USD to pay off creditors","related_issue":[70536],"teaser":"The US and Iran have been playing Battleship with oil tankers","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/5\/.dca24e7c-8b96-4671-a22c-6c1c82c06bc1.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Iran seizes another oil tanker + Bed Bath &amp; 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