Oil and commodity markets are eager for signs that traffic is resuming
Amid discussions about reopening the Strait of Hormuz, three oil tankers operated by an Omani companya French-owned container ship and a Japanese-owned gas carrier have crossed the Strait of Hormuz since Thursday (3), according to navigation data, reflecting Iran’s policy of allowing vessels considered friendly to pass.
A container ship owned by France’s CMA CGM transited the Strait on Thursday, the day French President Emmanuel Macron said only diplomatic efforts, not a military operation, could open the Strait. The French ship changed its Automatic Identification System destination to “Owned France” before entering Iranian waters, signaling its nationality to Iranian authorities.
Two large oil tankers and an LNG tanker operated by Oman Shipping Management also left the Gulf on Thursday, according to data from MarineTraffic and LSEG. Oman, which mediated negotiations between Iran and the United States before the attacks, criticized the launch of attacks while talks were ongoing.
Japanese company Mitsui OSK Lines said on Friday that the Sohar LNG tanker, which it co-owns, crossed the Strait, becoming the first ship linked to Japan and the first LNG carrier to do so since the start of the conflict.
O Iran initially closed the Strait, a route for about 20% of global oil and LNG flowsafter US and Israeli airstrikes in late February led to an escalating conflict. The government later said it would allow ships without ties to the US or Israel to transit.
Os Oil and commodity markets are eager for signs that traffic is resuming. Several tankers and container ships had managed to escape the blockage in previous weeks, but the activity was quickly followed by days of total shutdown.
*Reuters
