TOKYO, May 14 (Reuters) — A crude oil tanker flying the Panama flag and managed by the Japanese company Eneos has successfully passed through the Strait of Hormuz, according to ship-tracking data from LSEG. This marks t...
TOKYO, May 14 (Reuters) — A crude oil tanker flying the Panama flag and managed by the Japanese company Eneos has successfully passed through the Strait of Hormuz, according to ship-tracking data from LSEG. This marks the second time a Japan-related oil ship has made it through the strait recently.
Japanese Prime Minister Sanae Takaichi reached out directly to Iranian President Masoud Pezeshkian to facilitate the transit of the ship, which is carrying four Japanese crew members, as she mentioned in a post on X.
Before the conflict involving the U.S. and Israel against Iran disrupted oil supplies through the Strait of Hormuz, Japan depended on the Gulf for about 95% of its oil imports.
Miyata Tomohide, CEO of Eneos, Japan's largest oil refining group, informed reporters that the tanker crossed the strait safely and is expected to arrive in Japan by late May or early June.
The tanker, managed by Eneos, is transporting 1.2 million barrels of Kuwait crude oil and 700,000 barrels of Emirati Das Blend oil, loaded in late February, with an estimated arrival date of June 3, according to data from Kpler.
Foreign Minister Toshimitsu Motegi, who was part of the coordination efforts including support from Japan's embassy in Tehran, confirmed that the government did not pay any toll to Iran for the transit.
Since the conflict started in late February, Tokyo has increased its diplomatic efforts and sought alternative oil sources to compensate for the losses, while also keeping domestic fuel prices down through substantial government subsidies.
Currently, there are still 39 Japan-related vessels stranded in the Gulf, as noted by Takaichi.
She stated, “The government will continue to actively engage in diplomatic efforts to ensure that all vessels, including those linked to Japan, can transit the Strait of Hormuz as soon as possible.”
The recent successful passage through the Strait follows an earlier one in late April by the Idemitsu Maru, which was carrying Saudi oil and managed by the Japanese refiner Idemitsu Kosan.
Idemitsu, Japan's second-largest oil refining group, indicated this week that it anticipates the Strait of Hormuz will reopen sometime between July and September. They also expect benchmark Dubai oil prices to drop to pre-war levels by the end of the next fiscal year in March 2027.
As Japanese refineries tap into their strategic stockpiles and increase alternative oil supplies from sources like the United States and the Caspian region, refinery operations have started to normalize this month, exceeding 70% for the first time since late March.
Additionally, a Chinese supertanker carrying Iraqi crude also navigated through the Strait on Wednesday, just before a summit between U.S. and Chinese leaders in Beijing over the next two days.
Last week, Iranian Foreign Minister Abbas Araqchi visited Beijing, further highlighting the ongoing diplomatic activities in the region.
Japan-linked crude oil tanker crosses Strait of Hormuz.