Oil flows resume through Hormuz as fragile US-Iran truce holds

Three oil-laden supertankers have successfully transited the Strait of Hormuz amid a fragile ceasefire between the United States and Iran, according to shipping data, signalling limited movement in a route critical to global energy supplies.

The Liberia-flagged VLCC Serifos and China-flagged tankers Cospearl Lake and He Rong Hai exited the “Hormuz Passage trial anchorage” — a route bypassing Iran’s Larak Island — on Saturday, data from the London Stock Exchange Group (LSEG) showed. Each vessel can carry up to 2 million barrels of crude oil.

The movement comes after weeks of disruption caused by Iran’s blockade of the strait, a chokepoint that handles roughly 20 per cent of global oil and liquefied natural gas shipments, pushing energy prices higher since the outbreak of conflict involving the US and Israel in late February.

Serifos, chartered by Thai state-owned energy firm PTT, is among several vessels that had sought clearance from Iran to pass through the strait. Carrying crude loaded from Saudi Arabia and the United Arab Emirates, it is expected to reach Malaysia’s Malacca port by 21 April.

Another tanker, Ocean Thunder, loaded with Iraqi crude and chartered by a unit of Malaysia’s Petronas, had transited the waterway earlier. Meanwhile, Cospearl Lake, also carrying Iraqi oil, is expected to arrive at China’s Zhoushan port on 1 May. The discharge destination of He Rong Hai, which is carrying Saudi crude, remains unclear.

Both Chinese-flagged tankers are chartered by Unipec, the trading arm of Sinopec.

Despite these movements, congestion persists, with hundreds of tankers still waiting in the Gulf for clearance during the two-week ceasefire window.

Shipping data also showed three empty tankers — Mombasa B, Agios Fanourios I, and Shalamar — entering the strait to load crude. The Malta-flagged Agios Fanourios I has indicated it will head to Iraq to load Basrah crude for Vietnam.

Industry sources say the limited resumption of tanker traffic underscores the tentative nature of the ceasefire, with the flow of oil through one of the world’s most critical maritime chokepoints remaining uncertain.

With Reuters inputs