Three large oil tankers, fully laden, transited the Strait of Hormuz on Saturday, April 11th, likely representing the first group to depart the Persian Gulf since the United States and Iran reached a ceasefire agreement.
Resumption of Oil Transport
Iran’s closure of the Strait of Hormuz – a critical pathway for approximately 20% of the world’s oil and liquefied natural gas – impacted global energy supplies and contributed to rising oil prices following the start of conflict with Iran in late February.
Data from LSEG indicates the three Very Large Crude Carriers (VLCCs) – the Serifos flagged in Liberia, the VLCC Cospearl Lake, and the He Rong Hai flagged in China – entered and exited a “temporary anchorage off Hormuz” near Iran’s Larak Island on Saturday. Each vessel has a capacity of up to 2 million barrels of oil.
Vessels and Destinations
Sources report that the Serifos, chartered by PTT, Thailand’s state-owned energy company, was among seven vessels for which Malaysia sought permission from Iran to transit the Strait. The Serifos carried crude oil from Saudi Arabia and the United Arab Emirates in early March and is expected to arrive at the Port of Malacca in Malaysia on April 21st.
Though, Malaysia’s Ministry of Foreign Affairs, Petronas, and PTT have not responded to Reuters’ requests for comment.
Prior to this, the oil tanker Ocean Thunder, carrying crude oil from Iraq and chartered by a company affiliated with Malaysia’s state-owned energy company Petronas, transited the waterway last week.
The Cospearl Lake, carrying oil from Iraq, is expected to arrive at the Zhoushan port in eastern China on May 1st. The destination for the He Rong Hai’s Saudi Arabian crude oil shipment remains unclear.
LSEG data likewise shows both the larger tankers were chartered by Unipec, a trading arm of the Chinese energy giant Sinopec (600028.SS). Sinopec has not responded to a request for comment.
Additional Tanker Movement
Further data from LSEG reveals three additional empty tankers – the Mombasa B, Agios Fanourios I, and Shalamar – were traveling in the Strait of Hormuz on Sunday, heading into the Persian Gulf to collect oil.
The Very Large Crude Carrier (VLCC) Agios Fanourios I, registered in Malta, is signaling it is heading to Iraq to load Basrah crude oil for Vietnam.
Eastern Mediterranean Maritime, which manages the Agios Fanourios I, and CMB.TECH NV, along with the company managing the VLCC Mombasa B, registered in Liberia, did not immediately respond to requests for comment. Pakistan National Shipping, which manages the Shalamar, also did not immediately respond.
Hundreds of other oil tankers remain anchored in the Persian Gulf, awaiting departure as the two-week ceasefire between Iran and the United States holds.
Frequently Asked Questions
What vessels recently transited the Strait of Hormuz?
Three large oil tankers – the Serifos, VLCC Cospearl Lake, and He Rong Hai – transited the Strait of Hormuz on Saturday, April 11th.
Which company chartered the Serifos?
The Serifos is chartered by PTT, Thailand’s state-owned energy company.
How much oil can the tankers carry?
Each of the three VLCCs has a capacity of up to 2 million barrels of oil.
As the ceasefire continues, will the backlog of tankers in the Persian Gulf be able to clear, and what impact will this have on global energy markets?
