SINGAPORE: Three tankers stuck in the Strait of Hormuz, carrying a total of 5 million barrels of crude oil, have started to leave the area, with two of them heading towards Asia. This movement comes after a temporary agreement between Iran and the United States that has helped ease the supply restrictions in the Gulf, leading to lower global oil prices.
The VL Breeze, a South Korean Very Large Crude Carrier with 2 million barrels of Qatari condensate and Abu Dhabi crude on board, has successfully passed through the strait and is now on its way to Daesan. This ship is chartered by Hyundai Oilbank.
Another large vessel, the Plata Carrier, operated by Indian Oil Corp, is also exiting the strait with 2 million barrels of Saudi crude. It is sailing alongside the Prudent Warrior, a Suezmax tanker carrying 1 million barrels of Iraqi Basrah crude, both of which are flagged from Liberia.
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Officials at Hyundai Oilbank and Indian Oil Corporation were not available for immediate comments. Recent estimates from Kpler and Vortexa analysts suggest that nearly 90 million barrels of crude oil were previously stuck in the Gulf.
On Wednesday, South Korea’s maritime ministry reported that four ships operated by South Korean companies have safely navigated out of the strait and are heading to their destinations—one to South Korea and others to different countries. However, 18 out of the 26 vessels that have been stranded since the onset of the conflict in the Middle East still remain in the Gulf.
It is unclear if these ships are using the temporary maritime routes set up by Oman and the International Maritime Organization to ensure safer passage away from the region. Oman has stated it will keep the Strait of Hormuz open for shipping without charging any fees, having created two new routes to help vessels leave safely.
Additionally, two empty liquefied natural gas tankers, the Shandong Redwood and Milaha Qatar, have recently been spotted west of the strait, preparing to load cargoes from Qatar. This marks the largest number of empty LNG tankers in the area since the conflict started, totaling nine.
Qatar’s Prime Minister Sheikh Mohammed bin Abdulrahman al-Thani has announced that the Gulf state plans to resume regular LNG production within a few weeks, as reported by the Financial Times.
