Tanker traffic in Hormuz raises alarm: STS capacity has reached its limit Ship-to-ship (STS) transfer operations, which are concentrated off the coast of
Tanker traffic in Hormuz raises alarm: STS capacity has reached its limit
Ship-to-ship (STS) transfer operations, which are concentrated off the coast of Oman in order to maintain oil exports due to the tension in the Middle East, have reached a critical level. Increasing tanker traffic increases costs and capacity pressure in global maritime transportation.
Security problems around the Strait of Hormuz, one of the most important transit points of world oil trade, have made alternative operations in energy transportation mandatory. Gulf countries began to transfer oil between tankers anchored in the Gulf of Oman in order to maintain export flows. However, while the volume of ship-to-ship transfers made using this method is rapidly increasing, the operational capacity is approaching its limits.
STS operations offshore Oman increased to approximately 2.5 million barrels per day in September, according to Reuters data. This amount was approximately 1.4 million barrels in August. Increasing transfers require more tankers and longer operating times, increasing the pressure on the global tanker fleet.
Costs are rising in the tanker market
Risks around Hormuz are pushing up freight rates, especially for large crude oil tankers (VLCC). As transportation costs approach record levels due to longer waiting times, security measures and additional transfer operations, tanker owners are demanding high risk premiums.
While some tankers are navigating by turning off their AIS signals due to the developments in the region, there is a serious decrease in the number of commercial ships passing through the Strait of Hormuz. Traffic in the strait, where approximately 125 large commercial ships passed daily before the war, decreased significantly.
It also concerns Türkiye closely
The difficulty of tanker operations in Hormuz is closely followed by Türkiye in terms of energy transportation and maritime logistics. If the risks in the region prolong, new increases in tanker insurance, freight prices and energy import costs may come to the fore.
For Turkish shipowners, operation planning of ships operating in the Gulf, Red Sea and Mediterranean lines is becoming more critical.
Source: SeaNews Türkiye
