A growing number of oil tankers have been broadcasting their position and intention to pass through the Strait of Hormuz in recent hours, in a sign that a tentative recovery of traffic through the chokepoint is underway.
Before the U.S. and Iran signed the memorandum of understanding to negotiate a peace deal, most tankers were moving through and around the Strait of Hormuz in the so-called dark mode, with transponders and AIS positioning switched off.
Once the hallmark of Iran’s sanction-evading tactics, dark mode has become mainstream in the Persian Gulf, the Gulf of Oman, and most of all – in the Strait of Hormuz, as tanker owners and shippers sought to protect their cargoes from attacks.
The dark crossings of vessels compounded the already difficult task of market analysts and observers to estimate how much supply was lost in the Middle East and how much could still reach some buyers with stealthy moves out of the region.
Since the U.S.-Iran memorandum of understanding was signed, more vessels have started to openly broadcast their position, according to conventional visible tracking signals monitored by Bloomberg.
As many as seven tankers were broadcasting they were in the Strait of Hormuz on Tuesday morning local time—two outbound non-Iranian supertankers, three outbound tankers carrying fuels, and two Iran-flagged medium-sized Suezmax tankers inbound moving into the Gulf, according to the data.
While the increase in visibility in tanker positioning suggests a tentative recovery of confidence, shipowners remain wary of abrupt changes to navigability conditions, including conflicting signals from the U.S. and Iran on whether the Strait is open or not, and where mines need to be cleared.
A total of 25 AIS-visible transits through Hormuz were recorded on June 22, including French- and Qatari-linked LNG carriers, maritime intelligence firm Windward said.
But in a sign that shippers are still waiting for full go-ahead, Indian Oil Corporation (IOC) has reportedly failed to charter three tankers to pick up crude and gas from the Persian Gulf and ship the volumes through the Strait of Hormuz, as many shipowners and operators remain very cautious about sending vessels to the area.
By Charles Kennedy for Oilprice.com
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