Japan-controlled tankers return to Middle East after months away
Japanese shipowners are using ship-to-ship transfers off Oman and Fujairah as freight costs rise and refiners seek Middle Eastern crude grades.
- On Tuesday, Bloomberg reported that Japan-linked tankers are returning to the Gulf near Oman for ship-to-ship transfers, marking a significant shift after avoiding the Middle East since the Iran war began in February.
- Japanese refiners avoided the Persian Gulf for over seven months due to regional conflict, but are now returning to offshore transfers to reduce soaring freight and logistics costs.
- Ship-Tracking data shows Japanese operators began Middle Eastern STS transfers in August, moving nearly 3.7 million barrels by early October to secure crude supplies without entering the Persian Gulf.
- Operators remain extremely cautious, refusing to attempt Hormuz transits into the Persian Gulf; Mitsui OSK Lines, the world's largest tanker operator, expects shipping disruptions to continue without normalization by year-end.
- Despite challenges, the Idemitsu Kosan-owned supertanker Idemitsu Maru landed in Japan earlier this month with Omani crude, while industry representatives stated they will continue "ensuring the stable procurement of crude oil and the safety of its transport.
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10 Articles
Japanese Refiners Buy Middle East Crude Through Ship-to-Ship Transfers
Several Japanese oil tankers are returning to the Middle East to pick up crude cargoes for Japan’s refineries, but none of these are moving into the Persian Gulf through the Strait of Hormuz. Instead, a rising number of Japan-owned or Japan-bound tankers – most of which have steered clear of the Middle East since the Iran war began – are returning to waters in the Gulf of Oman to participate in ship-to-ship (STS) transfers offshore Oman or Fujai…
Japan is boosting direct deliveries from the Middle East.
Because of more than seven months of fighting in the Persian Gulf, Japanese refiners and ship owners had stayed away from the area in an effort to reduce security risks. Instead, off India or in Southeast Asia...
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