Three very large crude carriers (VLCCs), transporting approximately 6 million barrels of crude oil, have passed through the Strait of Hormuz in the last 24 hours, departing the Persian Gulf despite the threat of attacks from Iran.
According to Bloomberg, the three VLCCs resumed transmitting automatic positioning signals on Thursday morning as they entered the Gulf of Oman after leaving the Persian Gulf. Oil analysts and traders are closely monitoring tanker movements through the Strait of Hormuz amid rising tensions in the Middle East.
Tensions in the Region and Threats to Shipping
A temporary peace agreement signed last month provided a brief opportunity for carriers to export previously blocked cargo from the Gulf. However, following the collapse of that agreement, the window closed, and Tehran resumed attacks on vessels traversing the waterway.
This week, a key alternative route used by Saudi Arabia to avoid the Strait of Hormuz also faced threats. Riyadh had been exporting record volumes of crude oil from terminals on the Red Sea before Tehran-backed Houthi rebels in Yemen warned ships in the area against entering Saudi ports. Subsequently, the group attacked two Saudi tankers, raising concerns about the stability of oil supplies to Asia.
Supertanker Route
The three tankers that passed through the Strait of Hormuz overnight are carrying different grades of crude oil. Tracking data shows that one was loaded in Iraq, the second in Qatar, and the third in the United Arab Emirates.
All three vessels navigated the strait with their automatic positioning signals turned off, making them harder to track and reducing the risk of becoming targets for attacks. One of the tankers is headed to the city of Rizhao in China, where it is expected to arrive in mid-next month. The other two have not yet revealed their destinations.
Source: Bloomberg
