3 Supertankers Exit Hormuz With 6 Million Barrels as War Keeps Traffic Near 10 Daily Crossings
Updated
Updated · Reuters · May 20
3 Supertankers Exit Hormuz With 6 Million Barrels as War Keeps Traffic Near 10 Daily Crossings
10 articles · Updated · Reuters · May 20
Three supertankers carrying 6 million barrels of Middle East crude left the Strait of Hormuz on Wednesday after waiting more than two months in the Gulf; a fourth tanker was entering.
The delayed sailings reflect disruption from the U.S.-Israeli war on Iran, which has sharply reduced movement through a chokepoint that normally handles about one-fifth of global oil and energy supply.
Traffic has fallen to about 10 vessels a day from 125-140 passages before the war, with crude tankers still only a small share and about 20,000 seafarers stranded aboard hundreds of ships in the Gulf.
Industry and military warnings still describe every transit as high risk, citing recent aggressive Iranian actions, attack, drone and mine threats, congestion and reduced military oversight.
Among the departures, South Korea's Universal Winner is headed to Ulsan with 2 million barrels of Kuwaiti crude, while two Chinese-linked VLCCs are bound for ports in Guangdong and Fujian.
Iran's new tolls challenge maritime law. Will other strategic waterways soon follow its lead?
As a 'shadow fleet' defies the Hormuz blockade, is this the new normal for global trade in conflict zones?
With 1,500 ships trapped and fuel prices soaring, how long until the Hormuz crisis triggers a global recession?