At least 20 oil tankers carrying 35 million barrels have departed the Persian Gulf through the Strait of Hormuz following an agreement between the US and Iran to reopen the sea route, according to data from Kpler, a company that tracks global trade flows.
These tankers, which are not of Iranian origin, had been in the Gulf for more than three months after Tehran effectively closed the Strait of Hormuz at the start of the war, Kpler analysts reported on Tuesday. The vessels are expected to reach their final destinations, primarily in Asia, by early August.
Overall, confirmed oil shipments through the Strait of Hormuz have risen to approximately 4.8 million barrels per day since the agreement between the US and Iran, Kpler noted. Oil flows in June are the highest since the US and Israel attacked Iran on February 28. However, export volumes remain significantly lower than pre-war levels, when 15 million barrels per day passed through the strait. Iranian oil tankers carrying about 21 million barrels left the Strait of Hormuz in June, according to Kpler analysts.
The US Navy lifted the blockade of Iran on June 18, and the Treasury Department this week removed sanctions on the sale of Iranian oil until August. Tankers loaded since the end of April have exited the Strait of Hormuz with 51 million barrels this month, Kpler analysts noted. These vessels were not of Iranian origin, and their transponders were turned off, the analysts added. The actual figure is likely even higher.
Reduction of threat level in the Strait of Hormuz
The increase in oil exports comes as the Joint Maritime Information Center (JMIC) has lowered the threat level for vessels crossing the Strait of Hormuz to “moderate.” The US-led center is a maritime security organization based in Bahrain that coordinates the actions of allied fleets and commercial vessels in the Middle East.
“An attack is possible but unlikely, and the overall risk has decreased following the implementation of the Memorandum of Understanding between the US and Iran,” according to the latest JMIC advisory published on Tuesday. As recently as June 4, the center classified the security situation as “critical,” its highest threat assessment.
Plan to evacuate sailors
The International Maritime Organization (IMO), a UN agency, announced on Tuesday that it is implementing an evacuation plan for more than 11,000 sailors still in the Persian Gulf. The plan is supported by Iran, Oman, the US, and other Persian Gulf states, the IMO reported.
“We have secured the necessary security guarantees and carefully verified the conditions for safe navigation to support these operations,” said IMO Secretary-General Arsenio Dominguez in his statement.
Source: CNBC