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Japan-Linked Supertanker Sails Through Strait of Hormuz Amid Ongoing Iran War

A Japan-linked supertanker, Idemitsu Maru, has appeared to be sailing through the Strait of Hormuz, marking what may be the first attempt by an oil carrier from Japan to leave the Persian Gulf since the Iran war began. The Idemitsu Maru began sailing late Monday toward the strait from northwest of Abu Dhabi, where it had idled for more than a week, according to tracking data.

The supertanker, which is carrying 2 million barrels of crude loaded from Saudi Arabia's Juaymah terminal in early March, was seen sailing through the Strait of Hormuz on Tuesday. 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 is listed as being operated by the tanker arm of Japanese energy conglomerate Idemitsu Kosan Co.

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.

Read also: Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data

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.

CarrierNationalityCargoLoaded FromDestination
Idemitsu MaruJapan2 million barrels of crudeSaudi Arabia's Juaymah terminalTo be determined
Liquefied Petroleum Gas CarrierJapan/IndiaLiquefied petroleum gasNot specifiedFacilitated by India

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

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