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Oil tanker hits U.S. Navy ship

A U.S. Naval ship collided with a Panamanian oil tanker early on Sunday morning in the politically-charged Strait of Hormuz, according to Bloomberg.

The cause of the collision was not made immediately available and is the subject of an inquiry from the Pentagon. However, the Navy was willing to assure that the crash was not combat-related.

The tanker, M/V Otowasan, flies the Panamanian flag, though it is owned by a Japanese company. It collided with the USS Porter, a guided missile destroyer, at around 1 in the morning on Sunday, local time.

The crash left a 10-foot tear in the side of the destroyer, but neither ship reported any significant injuries. The Otowasan did not report any leaks despite being around 95 percent full at the time of the accident.

The Associated Press reports that the Porter was in the region as part of the U.S. Navy's build-up in response to the threat from Iran to close the Strait of Hormuz.

An outlook for the global oil tanker industry through 2013 can be found at PennEnergy's Research area.

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