Two Chinese supertankers exit Hormuz amid thaw in Iran stand-off
On Wednesday, the Strait of Hormuz saw the passage of two Chinese supertankers among a fleet of vessels, as Iran announced the clearance of 26 ships—a notable rise since the onset of the conflict. According to the shipping database myvessel.cn, the three very large crude carriers (VLCCs) transported a total of 6 million barrels of oil from the Persian Gulf. Sources within the industry and a government announcement indicate that these vessels likely departed without incurring tolls to Iran. The Chinese VLCCs include the Yuan Gui Yang, operated by state-owned Cosco Shipping Energy Transportation, and the Ocean Lily, a Hong Kong-registered ship managed by Sinochem Corporation's subsidiary. The Yuan Gui Yang is set to reach Shuidong port in Guangdong on June 4, while the Ocean Lily is due at Meizhouwan port in Fujian on June 7. Analysts warn that it remains uncertain whether this is an isolated incident or indicative of a larger trend.
Key facts
- Two Chinese supertankers were among vessels transiting the Strait of Hormuz on Wednesday.
- Iran confirmed it allowed 26 vessels to transit the strait, a hefty uptick from previous levels.
- Three VLCCs carried a combined 6 million barrels of oil out of the Persian Gulf.
- The Chinese tankers are the Yuan Gui Yang (Cosco Shipping) and the Ocean Lily (Sinochem subsidiary).
- The Yuan Gui Yang is due at Shuidong port, Guangdong on June 4.
- The Ocean Lily is expected at Meizhouwan port, Fujian on June 7.
- Analysts caution it is too early to tell if this is a one-off or a trend.
- The tankers were likely allowed to exit without paying a toll to Iran.
Entities
Institutions
- Cosco Shipping Energy Transportation
- Sinochem Corporation
- myvessel.cn
Locations
- Strait of Hormuz
- Persian Gulf
- China
- Shuidong port
- Guangdong province
- Meizhouwan port
- Fujian province
- Hong Kong