(April 18): More crude oil and gas carriers have begun to test the Strait of Hormuz on Saturday, even as mixed messages from Iranian authorities leave shipowners fretting over the status of the vital energy chokepoint.
After seven weeks of extremely constrained traffic through one of the world’s most important energy thoroughfares, vessels sought to seize the opportunity provided by a 10-day ceasefire between Israel and Hezbollah in Lebanon. The FPMC C Lord, a very large crude carrier laden with Qatari and Saudi crude, sailed south of the Iranian island of Larak and was heading into the Gulf of Oman around the middle of the day on Saturday, indicating its destination as Fujairah, in the United Arab Emirates.
A handful of other oil carriers are also pointing towards the waterway. Earlier, three liquefied petroleum gas (LPG) carriers and an oil product tanker — some of them sanctioned by the US — headed east into the Gulf of Oman, while a Pakistan-flagged products tanker was not far behind. Several liquefied natural gas (LNG) carriers are also nearing the strait.
Iranian Foreign Minister Abbas Araghchi said on Friday that Hormuz was “completely open” to commercial shipping for the duration of a 10-day ceasefire between Israel and Hezbollah in Lebanon — a major relief for shipowners and oil and gas consumers globally.
Iran’s semi-official Fars news agency later reported that the passage will still be closed if a US naval blockade was still in effect, and shipowners working in the Persian Gulf have also reported hearing radio broadcasts advising them to get permission before crossing.
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State-run Nour News said on Saturday that the waterway was “under strict management and control by the armed forces” — but stopped short of explictly saying the strait had been closed once again.
As a result, some hesitation was still evident on Saturday, Greek and Indian crude tankers abruptly U-turning early in the day. They sailed northeast towards Hormuz from waters off Dubai, filled with crude, before turning around. Some are now idled in locations not far from where they turned, next to Iran’s Qeshm island, while a sixth has not sent a geolocation signal for several hours.
Bloomberg News could not immediately confirm the reason for their abrupt change.
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There were no immediate responses to emails sent by Bloomberg to the owners and managers of the Greek and Indian tankers outside of regular business hours.
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