Iranian tankers exit U.S. blockade ahead of deal signing

At least three Iranian tankers carrying nearly five million barrels of crude oil have emerged from the US Navy’s blockade of the Strait of Hormuz, the first such shipment in two months, as shipowners cautiously reposition ahead of a US-Iran deal to be signed in Geneva on Friday.

Two supertankers named Diona and Hero 2 – both owned by the National Tanker Company of Iran and under US sanctions – According to shipping data provided by Kpler, it managed to bypass the US Navy blockade perimeter, carrying a total of 3.8 million barrels of Iranian crude oil.

A third Iran-linked tanker carrying 1 million barrels of Iranian crude oil left the blockade line on Wednesday, according to Kpler.

“Their apparent departure from the blockade indicates that other Iranian merchant tankers are also preparing to resume trade,” said Michelle Wiese Bockmann, senior naval intelligence analyst at Windward.

The United States and Iran signed a Memorandum of Understanding on Monday to end the nearly four-month war, and an official signing ceremony will be held in Geneva on Friday. The agreement, the details of which have not been disclosed, is expected to be signed. Reopening of the Strait of Hormuz and lifting of sanctions It’s about Iran’s oil sales.

Washington will allow Tehran to immediately begin selling oil and fuel once the deal is signed this week, in exchange for Iran’s commitment to halt its nuclear program. The Wall Street Journal reported Tuesday.

The Strait of Hormuz, through which approximately one-fifth of the world’s oil flowed before the war, was effectively closed during the conflict. The US Navy has blockaded Iranian ports and Iran itself, targeting ships linked to countries it sees as enemies, stranding hundreds of ships and disrupting the global energy flow.

While the prospect of reopening has prompted some shipowners, battered by months of rising freight costs and war risk insurance premiums, to reposition their ships towards Gulf ports in anticipation of a surge in restocking demand, most have been more cautious and continue to hold back.

“The shipping industry is approaching the news with cautious disbelief rather than celebration,” Lloyd’s List Intelligence said.

Lloyd’s analysts said insurers were sticking with high war risk premiums and demanding “robust evidence” that the waterway would remain safe. “While a pause in hostilities would free stranded sailors and boost tanker and bulk cargo markets, the industry sees this as a fragile reprieve rather than a return to normalcy,” analysts wrote in a client note on Tuesday. he said.

But while some very large crude carriers (VLCC) owners want to gain a “first mover advantage” by positioning their tankers towards the Middle East Gulf, others plan to hold back, according to Lloyd’s.

Dozens of VLCCs have sailed from the South China Sea and across the Indian Ocean towards United Arab Emirates ports, where at least 30 ships are anchored, according to the maritime intelligence firm. Windward.

Traffic in the strait is expected to remain minimal for now, as both blockades will remain in effect until the agreement is officially signed on Friday. US Navy Tim Wilkins, chief executive of Intertanko, an association of independent tankers, reminded the industry that “nothing has changed and will not change until the agreement is signed”.

The scale of the backlog is important. Kpler forecast 118 loaded tankers were able to leave the region within 15 days of signing the agreement, but the increase in the number of ships leaving is likely to be a one-off event rather than a permanent recovery of traffic.

“Most shipowners appear to be cautiously waiting for more details before planning new passages through the Strait of Hormuz,” said Niels Rasmussen, BIMCO chief marine analyst. “Before moving their ships through the strait, they will seek assurance that passages are not only permitted but also safe.”