On June 19, oil shipments through the Strait of Hormuz increased after the United States and Iran agreed to a ceasefire. Gulf oil producers are gearing up to boost their exports, even though there are some concerns...
On June 19, oil shipments through the Strait of Hormuz increased after the United States and Iran agreed to a ceasefire. Gulf oil producers are gearing up to boost their exports, even though there are some concerns about the conditions set by Tehran for using this crucial waterway.
The interim agreement, signed on Wednesday to end the conflict, was publicly released by both Washington and Tehran. However, U.S. President Donald Trump cautioned that he might restart attacks and target Iranian officials if the terms are not met.
According to MarineTraffic data, at least four tankers carrying crude oil, oil products, and liquefied petroleum gas entered the strait on Friday, en route to ports in Iraq.
A Japanese-owned crude tanker that was delayed by the conflict has exited the strait and is now headed for Japan.
Additionally, Indian-flagged supertankers, Desh Vibhor and Desh Vaibhav, started their journeys through the strait to India after several days of interruption.
VESSELS RESUME SIGNALING AS TRAFFIC RETURNS
Ships have started broadcasting their positions again while passing through Hormuz after weeks of keeping their movements hidden by turning off their transponders.
There were 25 commercial crossings through Hormuz on June 18, marking the highest daily count since April 18 and significantly above the average daily crossings of the first ten days of June, according to AXS Marine data. However, traffic is still well below the pre-conflict average of about 120 daily crossings.
Gulf oil producers are already active in the market. Kuwait Petroleum Corp has offered crude for July delivery through a tender after lifting its force majeure and announcing plans to increase production. Meanwhile, Abu Dhabi National Oil Company issued its fourth tender of the month.
The U.S. officially lifted its blockade of Iranian ports on Thursday.
The U.S. Navy-led Joint Maritime Information Center cautioned mariners to be aware of mine risks and expect naval presence as clearance operations continue. They advised vessels to avoid the Traffic Separation Scheme due to mine hazards.
This scheme, established in 1968 by the United Nations’ maritime agency, set routing lanes through Iranian and Omani waters in the strait.
Ship broker Braemar noted, “Risks range from the danger of mines to the possibility of getting stuck in the Mideast Gulf if tensions rise and Iran blocks Hormuz again.” They also pointed out that the deal allows Iran to consider charging fees for managing Hormuz transits after 60 days.
IRAN'S CONDITIONS RAISE CONCERNS FOR SHIPPERS
Switzerland announced that U.S.-Iran discussions for a broader peace agreement would not occur on Friday, and Vice President JD Vance canceled a planned visit, highlighting the uncertainty surrounding a lasting resolution.
Iran has indicated it will impose tighter controls on shipping. Iranian state TV reported that vessels must coordinate their passage with the Revolutionary Guards navy.
British maritime security firm Ambrey stated that Iranian forces ordered a Hong Kong-flagged tanker and a bulk carrier flagged in Saint Kitts and Nevis to turn back on Thursday.
In a recent advisory shared with the maritime industry, Iran's Persian Gulf Strait Authority announced that no vessel may pass through the Strait of Hormuz without a valid passage permit from them. They claim to be the only body authorized to issue such permits and reserve the right to charge insurance fees, requiring shipowners to obtain and renew coverage.
The shipping industry is opposed to any fee or toll system, asserting that the strait is an international waterway.
Meanwhile, a fleet of ten Iranian-flagged supertankers carrying nearly 20 million barrels of oil is sailing from Iran's Chabahar anchorage in the Gulf of Oman to Asia, likely heading to refineries in China, according to the U.S. advocacy group United Against Nuclear Iran, which tracks Iran-related tanker traffic.
UANI senior advisor Charlie Brown remarked that the issue of unilateral American sanctions seems to have diminished.