Saudi supertankers exit Hormuz in kingdom’s biggest oil flow since Iran war truce
Vessels are generally passing through a US-administered corridor in Omani waters
Add BT as a preferred source
SAUDI Arabia is exporting the most crude from inside the Persian Gulf since the the Iran war blocked the Strait of Hormuz, as producers across the region boost shipments following an interim peace deal between Washington and Teheran.
Four supertankers hauling crude loaded at Saudi Arabia’s main export hub appeared in the Gulf of Oman on Thursday (Jul 2), ship-tracking shows. That’s the largest number of exits since the peace pact came into effect about two weeks ago.
The ships, all owned by Saudi tanker giant Bahri, are part of a flotilla of vessels over 300 m long that made their way into the Persian Gulf late last month.
Together, they’re carrying about 8 million barrels loaded at the port of Ras Tanura, one of the world’s biggest crude-export facilities, the vessel-tracking data compiled by Bloomberg show.
It’s the latest evidence that Opec’s top producer is ramping up oil exports since traffic began crossing the Hormuz in earnest after the US and Iran agreed to reopen the waterway while they negotiate an end to the war.
Bloomberg reported on Wednesday that state-run behemoth Saudi Aramco has sold at least 6 million barrels of crude on an ad-hoc basis to Asian customers, a departure from its standard practice of long-term deals.
Traffic through Hormuz has picked up, with ships increasingly moving in convoys to clear the strait. Vessels are generally passing through a US-administered corridor in Omani waters, though some are using a route closer to Iran’s coast.
Another Saudi-owned tanker that loaded at Ras Tanura left Hormuz earlier this week.
Only a limited number of Saudi oil tankers remain inside the Persian Gulf. Of the four that remain near Ras Tanura, two are signalling that they are fully loaded, while another hasn’t updated its draft but appeared to load at the port in recent days. BLOOMBERG
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
Taiwan’s wealthy seeks diversification to Singapore, sparking private banking race: Bloomberg
Evergreen funds making inroads into Asia: HarbourVest
Malaysian tycoon Vincent Tan’s sell-downs point to pruning rather than an exit plan
Serenity Park condo owners lower asking price to S$440 million in second shot at collective sale
