News
Two supertankers crossed the Strait of Hormuz loaded with crude oil from Saudi Arabia and the UAE, in a notable sign of limited commercial shipping activity returning through one of the world’s most important energy chokepoints.
Details:
• Bloomberg reported, citing vessel-tracking data, that the Singapore-linked Eagle Veracruz and the Greek-owned Nissos Keros crossed the strait early Tuesday.
• Eagle Veracruz was carrying crude from Saudi Arabia, while Nissos Keros was carrying crude from the UAE.
• The two tankers’ combined crossing represents about 4 million barrels of unsanctioned crude.
• The move came after a week without a similar crossing by non-Iranian crude supertankers through the strait.
• Despite the development, Bloomberg said only five vessels crossed the strait in both directions on Tuesday.
What next?
The significance lies in the cargo and its origin. The passage of Saudi and Emirati crude through Hormuz is a practical test of the security margin available to Gulf shipping, but it does not yet mean normal navigation has returned while overall traffic remains almost paralyzed..
