Supertankers U-turn, zig-zag, pause around Strait of Hormuz as strikes continue
Disruption is already evident, with tankers avoiding spending more time than needed in the strait, industry sources said.Singapore-based Sentosa Shipbrokers said that over the past week, empty tankers entering the Gulf are down 32% while loaded tanker departures are down 27% from early May levels.The Coswisdom Lake, a very large crude carrier (VLCC), reached the strait on Sunday before making a U-turn and heading south, Kpler and LSEG data showed. On Monday it turned back again, resuming its journey towards the port of Zirku in the United Arab Emirates.The South Loyalty, also a VLCC, made a similar U-turn and remained outside the strait on Monday, LSEG data showed. It was scheduled to load crude from Iraq's Basra terminal, according to Kpler data and two shipping sources.advertisementThe Coswisdom Lake was scheduled to load crude at Zirku for delivery to China. It was chartered by Unipec, a trading arm of China's state-run Sinopec 600028.SS, LSEG and Kpler data showed.Sinopec did not immediately respond to a request for comment.NO LINGERINGShipowners will try to minimise time that vessels spend inside the Strait of Hormuz due to the conflict, KY Lin, spokesperson at Taiwan's Formosa Petrochemical Corp."Vessels will only enter the region when it is nearer to their loading time," he said on Monday.Japanese shipping firms Nippon Yusen 9101.T and Mitsui O.S.K. Lines 9104. T said on Monday they will continue to transit the strait but have instructed their vessels to minimise time spent in the Gulf.Several oil traders and analysts told Reuters that they had been warned to expect possible shipping delays as vessels wait for their turn outside the area.Iran's parliament on Sunday approved a measure to close the strait, Iran's Press TV reported, but any such move would require approval from the Supreme National Security Council.Iran has threatened to close the strait in the past but has never done so.- EndMust Watch
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