Japanese Crude Supertanker Attempts Hormuz Exit in War’s First

The Idemitsu Maru was seen sailing through the Strait of Hormuz on Tuesday, tracking data show. via Bloomberg

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(Bloomberg) — A laden Japan-linked supertanker appears to sailing through the Strait of Hormuz, in what may be the first attempt by an oil carrier from the country to leave the Persian Gulf since the Iran war began.

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The Idemitsu Maru began sailing late Monday toward the strait from northwest of Abu Dhabi, where it had idled for more than a week, tracking data show. It appeared to turn north toward Iran’s Qeshm and Larak Islands, then sail past Larak toward the eastern side of the strait. It’s carrying 2 million barrels of crude loaded from Saudi Arabia’s Juaymah terminal in early March.

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The 2007-built Panama-flagged very large crude carrier had entered the Persian Gulf a few days before war between the US and Iran broke out in late February. It’s listed as being operated by the tanker arm of Japanese energy conglomerate Idemitsu Kosan Co., and is currently signaling “for orders,” a common designation that indicates it may not yet have a buyer or destination.

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A company spokesperson said that for safety reasons, Idemitsu would not comment on the status of individual vessels. 

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Ship-tracking in the Strait of Hormuz may not accurately capture all transits as some vessels have transponders switched off, and signals in the region can be interfered with. 

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A transit by a Japanese-owned tanker would be a shift in approach by the nation’s refiners and shipowners, who tend to be conservative. Idemitsu Maru’s attempt is also noteworthy as it’s one of the largest tankers to do so since the US began a rival blockade of Iran two weeks ago. During that time, traffic through the strait has remained near zero.

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While Japan is heavily dependent on Middle Eastern crude, its shipowners have been cautious amid the hostilities. Idemitsu, among other refiners, has relied on ship-to-ship transfers to procure some cargoes, with these taking place well outside the Persian Gulf. They have also turned to buying alternative supplies from the US ferried on smaller tankers.

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Some Japan-linked vessels have made the transits during the war, although they were limited to cargoes of other commodities. Earlier this month, a liquefied petroleum gas carrier co-owned by another Japanese shipowner made the exit in a passage that was facilitated by India. 

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—With assistance from Yusuke Maekawa and Nicholas Lua.

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