US and Iran agree to fragile ceasefire in the Strait of Hormuz

Three supertankers carrying oil have passed through the Strait of Hormuz, according to shipping data from the London Stock Exchange Group (LSEG). The vessels, Serifos, Cospearl Lake, and He Rong Hai, are laden with crude oil and were seen exiting the “Hormuz Passage trial anchorage”, a bypass route around Iran’s Larak Island. This waterway is an important chokepoint for global energy supplies.

The Strait of Hormuz has been subject to disruptions since the start of the conflict between the US and Iran in February, which has led to increased oil prices. The vessels’ passage through the strait comes amid a fragile truce between the two countries.

According to LSEG data, Serifos is expected to arrive at Malaysia’s Malacca Port on April 21, carrying crude loaded from Saudi Arabia and the United Arab Emirates. Cospearl Lake, also chartered by Unipec, is expected to arrive at eastern China’s Zhoushan port on May 1, laden with Iraqi oil.

Other tankers are still waiting to exit the Gulf during the current two-week ceasefire period. Three empty tankers were seen sailing in the strait on Sunday, including Malta-flagged VLCC Agios Fanourios I and Shalamar. The vessels are managed by various shipping companies and are expected to load oil at different destinations.

Shipping data from LSEG shows that hundreds of tankers remain stuck in the Gulf, awaiting clearance to transit the Strait of Hormuz.

Source: Al Jazeera