Iran tried to seize two tankers in the Strait of Hormuz, firing at one vessel, the US Navy said on Wednesday.
The Iranian Navy retreated after the US Navy responded to distress signals and both commercial ships continued their voyages, it said.
“The Iranian Navy did make attempts to seize commercial tankers lawfully transiting international waters,” said Cdr Timothy Hawkins, a spokesman for the US Navy's 5th Fleet.
He said the navy “responded immediately” but that Iranian forces had fired shots during the attempted second seizure.
The US Central Command said the first ship Iran sought to seize was the Marshall Islands-flagged TRF Moss, which was in the Gulf of Oman when an Iranian vessel approached at 1am local time on Wednesday.
“The Iranian vessel departed the scene when US Navy guided-missile destroyer USS McFaul arrived on station,” Centcom said.
Three hours later, the US Navy received a distress call from the Bahamian-flagged Richmond Voyager, which was positioned more than 30km off the coast of Muscat.
Another Iranian naval vessel was close to the tanker and messaged it to stop.
Before the arrival of the USS McFaul, “Iranian personnel fired multiple, long bursts from both small arms and crew-served weapons,” Centcom said.
Several rounds hit the hull of the tanker but there were no casualties or significant damage, it said.
The UK Maritime Component Command on Wednesday called the incidents “unacceptable harassment, threatening freedom of navigation and harming global trade”.
Tehran has seized several vessels in the Arabian Gulf during heightened tensions with the US, which has navy patrols in the area.
In May, it seized two tankers in a single week and has been accused of holding a vessel as a “bargaining chip” over a payment dispute.
The UK's Maritime Trade Organisation also reported the “suspicious incident” involving “national maritime forces” off the coast of Oman, but did not name Iran.
Maritime security company Ambrey said the second ship was a Bahamas-flagged oil tanker, which is Greek-owned and US-managed.
It continued its journey through Omani waters but increased its speed and changed course after the incident, according to Ambrey.
Tehran has seized at least five commercial vessels in the past two years and has harassed several others, the US Navy said.
Tensions between Tehran and Washington increased after the US withdrawal from the 2015 nuclear deal.
President Donald Trump in 2018 reinstated sanctions on Tehran and later ordered the assassination of Islamic Revolutionary Guard Corps commander Qassem Suleimani, sending relations into deeper crisis in early 2020.
Iran has responded by increasing its nuclear activities – which it says are peaceful – and is also providing armed drones to Russia for its war against Ukraine.
Agencies contributed to this report
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PROFILE
Name: Enhance Fitness
Year started: 2018
Based: UAE
Employees: 200
Amount raised: $3m
Investors: Global Ventures and angel investors
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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”