Tankers are once again moving more regularly through the Strait of Hormuz, with fourteen vessels crossing in both directions on Wednesday, according to market intelligence from Kpler. That’s a sharp increase from single-digit numbers the previous week and suggests that some level of routine is returning to one of the world’s most vital oil shipping routes.
The Al Areesh, a Qatari liquefied natural gas carrier, was spotted leaving the Persian Gulf early Thursday. It marked the first such shipment from Qatar in three weeks. Meanwhile, the liquefied petroleum gas carrier CYH Yongchun passed through the strait with its transponder turned off, a common precaution in contested waters.
The U.S. military has been escorting some tankers through the chokepoint, according to Energy Secretary Chris Wright. He cited 6.5 million barrels of oil moving out of the gulf via the strait in the past week. 'We are restoring supplies of global oil and refined products to the world out of that region,' Wright told Bloomberg Radio.
The flow through Hormuz has ebbed and flowed with each new wave of attacks and military strikes. After U.S. operations in mid-July, followed by Iranian retaliation against Kuwait and others, traffic through the strait all but disappeared. But the recent uptick suggests buyers, sellers, and insurers are finding ways to proceed with more confidence.
Activity isn’t limited to crude. A very large crude carrier named Jamaica Prosperity was booked at nearly $500,000 per day to pick up a Persian Gulf cargo.
Red Sea Routes Also Show Some Activity
Further north, near the Red Sea, some tankers are entering the Gulf of Aden with an eye on the Saudi port of Yanbu. Despite threats from Iran-backed Houthi militants, vessels are still seeking access to the region. At the same time, some crude buyers in Asia are redirecting cargoes to Egypt’s Mediterranean port of Sidi Kerir, where Saudi exports are known to move.
A South Korean-controlled VLCC, V Glory, was observed approaching the Gulf of Aden before going dark. Another vessel, the Saudi-flagged Samha, did the same on Thursday. These moves are not uncommon in areas with heightened security risks, as ships try to obscure their location.
Rates for ships moving through the region remain elevated. The Norwegian-flagged products tanker recently appeared to be preparing to exit Hormuz, while two Suezmaxes linked to Iran, the Chloe and Kariz, are idling off Bandar Abbas. These vessels suggest that, while traffic is increasing, operators remain cautious about where and when to move.
Further south, the Bab el-Mandeb strait saw 21 vessels pass through on Wednesday, down from 38 the day before. Most of the ships passing through the chokepoint were carrying Russian crude. Despite the drop, the number remains a sign of continuing effort to keep supply lines open.
Japan’s Takamatsu Maru has also been rerouted toward Sidi Kerir, bypassing its earlier destination in the U.S. It is currently southeast of Africa, en route to the Mediterranean. Other large crude carriers, including Bidbid and VL Prosperity, have arrived at Sidi Kerir and are loading up with crude destined for Asian markets.
Three VLCCs—Olympic Luck, DHT Gazelle, and DHT Mustang—left Yanbu and are now idling off Sidi Kerir without clear next moves. Their delay suggests uncertainty remains, despite the apparent increase in activity through the straits. Meanwhile, late on Wednesday, two LNG carriers were struck near Egypt’s Damietta port, near the mouth of the Suez Canal.