Signs of gradual normalization are presented by navigation in the Straits of Hormuz, as tanker traffic increased significantly a few hours after the signing of the preliminary agreement between the United States and Iran to end the war that had caused serious turbulence on global energy markets.
According to ship monitoring data, three Saudi supertanker, carrying a total of around six million barrels of crude oil, they crossed the Straits of Hormuz on Thursday, marking the most important exports through the sea artery of recent weeks. At the same time, several more ships moving with closed relays during the collision began to reveal their position again.
During the war, Saudi Arabia had moved much of its oil exports through Yanbu port to Red Sea, as the substantial interruption of traffic in the Straits of Hormuz had trapped hundreds of millions of barrels of oil in Gulf waters.
Positive indications were also recorded in LNG market. The tanker LNG ‘Mraikh“, ” associated with QatarEnergy and manages the French subsidiary of Norwegian Knutsen OAS Shipping, exited the Gulf through the Straits carrying cargo from Qatar bound for Pakistan. It is one of only 15 LNG ships that have left the Gulf since the start of the conflict.
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At the same time, the tanker “Tong Lin Wan“, flying the flag of Hong Kong, he also passed the Straits of Hormuz to Singapore, carrying naphtha from the United Arab Emirates Refineries. Another ship of the same category, "Ye Chi", moved to the area near Larac Island, Iran, without however continuing its course.
In addition, three tankers loaded oil near the port of Fujira in the United Arab Emirates, outside the Straits, with two of them already departing to European destinations. Fujira had been targeted by Iranian attacks during the hostilities that began on 28 February.
Despite increased mobility, maritime and insurance market officials appear cautiously. INTERTANKO, representing the independent tanker owners internationally, called for clear guarantees on the safety of shipping and the immediate launch of demining operations, stressing that ships must be ensured that they will not be targeted again.
The London Lloyd’s Market Association also took a similar stance, pointing out that there are still important questions about sanctions, terrorism legislation and transit fees. As market players note, the restoration of confidence and the full return of commercial navigation to pre-war levels is expected to be a long and complex process.
See photos of the boat traffic in the Straits of Hormuz
