Even with an interim US-Iran peace deal aimed at resuming traffic through the Strait of Hormuz, shipowners are exercising caution, resulting in reduced vessel movement on Friday. The waterway, a crucial passage for global oil and gas, has been central to the recent conflict, and its reopening is a key component of peace discussions. However, the uncertainties surrounding the deal and the lingering security risks are making shipowners hesitant to immediately commit to full transit.
Several large oil tankers, including three Saudi-owned supertankers (Shaden, Jaham, and Awtad) controlled by Bahri, have recently emerged from the Persian Gulf into the Gulf of Oman, signaling some initial movement. A Qatari liquefied natural gas ship and a Chinese fuel tanker also exited the strait. This follows a period where a US blockade and Iran's control over the strait disrupted global energy trade, forcing some major players to resort to "dark" transits to conceal their movements.
The cautious approach is in line with warnings from maritime trade groups like BIMCO, which indicate that significant safety and security risks persist despite the peace agreement. While some optimism has led to certain vessels undertaking transits, broader industry confidence is still developing. Approximately 80 million barrels of oil on 40 very large crude carriers are currently awaiting transit in the Persian Gulf, with 21 of these supertankers indicating Asia as their destination.
Ahead of the potential reopening, some tankers, like the Suezmax Kapodistrias 21 and the very large crude carrier Coslucky Lake, rerouted towards the Middle East, anticipating increased activity. However, the current thin traffic on Friday suggests that many in the shipping industry are waiting for more definitive details and a clearer assessment of the safety conditions before fully committing to transits through the Strait of Hormuz.
