Oil shipments through the Strait of Hormuz, which was hit hard due to the tension in the Middle East, are on the rise again. As Saudi Arabia and regional
Oil shipments through the Strait of Hormuz, which was hit hard due to the tension in the Middle East, are on the rise again. As Saudi Arabia and regional producers increased tanker loadings, oil exports from the Gulf began to recover.
After the security crisis in the Strait of Hormuz, one of the most critical points of global energy transportation, oil producers turned to alternative operations. According to the latest data, Saudi Arabia has shifted its export shipments back to Gulf terminals following the disruption in the East-West oil pipeline.
Seven VLCC-type supertankers loaded approximately 14 million barrels of crude oil from Saudi Arabia's Ras Tanura terminal, according to data cited by Reuters. Saudi oil flows through Hormuz increased to an average of 2.9 million barrels per day in September.
STS operations play a critical role in oil transportation
Due to security risks in the region, oil producers have increased ship-to-ship (STS) transfer operations. These operations carried out off the coast of Oman ensure that crude oil is delivered to global markets.
According to Reuters data, the amount of oil transferred in STS operations around Hormuz reached approximately 2.5 million barrels per day in September. This figure was approximately 1.4 million barrels in August.
However, while this method increases the need for tankers, it also increases transportation costs. Freight rates and war risk premiums on large crude oil tankers remain high.
Hormuz traffic still not back to normal
Despite the recovery in oil exports, commercial ship traffic in the Strait of Hormuz has not reached its previous levels. Before the conflict, approximately 125 large commercial ships passed through the strait per day, but the number of passages has decreased significantly recently.
While tanker operators demand higher premiums due to security risks in the region, some ships navigate by turning off AIS signals.
Source: SeaNews Türkiye
