A new Hormuz route? Three oil tankers enter the Strait of Hormuz along Oman’s coastline

In recent times, there have been significant changes in shipping activity through the Strait of Hormuz. Three large energy cargo ships registered in Oman have chosen to sail close to Oman’s coastline, avoiding the Iran-dominated northern route. This incident highlights the severe challenges facing the global energy supply chain amid geopolitical conflicts at the local level. The movements of these three ships—including two supertankers and one liquefied natural gas (LNG) carrier—have become an important indicator of Middle East developments being watched by the market.

Three Oman tankers enter the Strait of Hormuz along Oman’s coastline

According to a report by Bloomberg, three tankers that appear to be registered in Oman seem to have entered the Strait of Hormuz along Oman’s coastline, in contrast to the Iranian northern route followed by some vessels after the outbreak of the conflict. These ships are managed by Oman’s ship management company, including two supertankers and one liquefied natural gas transport vessel. Among the largest tanker types, one of them is the first LNG transport vessel to flee the Gulf since the start of the war. The choice of the southern route reflects the risk-management strategies of shipping operators under geographic and regulatory constraints.

Strait of Hormuz transit mechanisms and regional games

The de facto blockade and restructuring of the Strait of Hormuz are the current focus. Iran is trying to establish a new passage-fee mechanism, requiring each voyage to pay up to $2 million, and is drafting a monitoring agreement with Oman. This move of politicizing a strategic waterway has significantly increased shipping costs. The selection of the southern route by Oman-registered vessels may be aimed at avoiding the fee mechanism.

At present, disruptions to shipping through the Strait of Hormuz have affected the macroeconomy, most notably by driving up energy prices. Supply-chain interruption risk has triggered a “risk premium” in the market, leading to volatility in energy prices. This not only increases import-inflation pressures for countries worldwide, but also poses challenges for nations that rely on Middle East energy, bringing additional pressure to policymakers in major economies.

This article “New Hormuz route? Three tankers enter the Strait of Hormuz along Oman’s coastline” first appeared in Chain News ABMedia.