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Chinese VLCCs U-turn near Hormuz as strike risk rises
The rerouting follows Reuters reporting that two Chinese shipping majors diverted vessels from the Strait of Hormuz and Bab el-Mandeb in July due to elevated drone and missile risks.
Two Chinese very large crude carriers have reversed course near the Strait of Hormuz and are idling in the area, according to ship-tracking data cited by OilPrice. The Sea V loaded crude oil in Iraq and set off for Hormuz, but turned back and is now waiting in the waterway. OilPrice reports the Sea V is sailing under a Hong Kong flag, with Marine Traffic describing a Chinese crew owner. A second Hong Kong-flagged vessel, Hestia, entered Hormuz earlier this week but later U-turned, and is currently in the Gulf of Oman. The disruption comes after Reuters said earlier this week that two Chinese shipping majors diverted vessels from the Strait of Hormuz and Bab el-Mandeb amid heightened risk of drone and missile strikes. OilPrice notes that state-owned COSCO Shipping Energy Transportation and China Merchants Energy Shipping stopped sending ships to the two straits in July, based on data from Vortexa. OilPrice adds that COSCO and CMES together operate more than 100 very large crude carriers and historically handled about half of China’s oil imports from the Middle East. The outlet also points to Reuters commentary that the tankers remain active but face longer routes and greater waiting time amid uncertainty.
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