Tanker Carrying Iraqi Oil Transits Strait of Hormuz via New Route Near Larak Island

The Suezmax tanker Ocean Thunder completed a transit of the Strait of Hormuz on a route that passes via Larak Island within Iranian territorial waters, according to reports from energy analyst Javier Blas. The vessel is loaded with approximately 1 million barrels of crude oil originating from Iraq.

This marks the first reported use of this new sea lane for such a cargo, highlighting ongoing adjustments in maritime navigation in the region.

The Strait of Hormuz remains a critical chokepoint for global oil trade, with about 20% of the world's seaborne oil passing through it daily. The new route near Larak Island, an Iranian island in the strait, allows vessels to navigate closer to Iranian shores, potentially avoiding certain international waters.

Iranian authorities have promoted this path as an alternative to the main shipping channel, citing security and navigational benefits, though it remains within their territorial waters.

The Ocean Thunder, flagged under Liberia, has a history of loading cargoes from multiple sources, including Russian crude oil in previous voyages. This versatility underscores the tanker's role in the global tanker fleet amid shifting export patterns. The current cargo from Iraq arrives as the country ramps up oil production and exports, aiming to meet OPEC+ quotas and stabilize global supply.

Regional tensions, including past incidents involving tanker seizures and attacks in the Gulf, have prompted shipping companies to explore alternative routes. The use of the Larak Island lane could reduce exposure to potential threats in the central strait but raises questions about compliance with international maritime law.

Affected parties include oil exporters like Iraq, importers reliant on stable Gulf shipments, and insurers assessing risks for vessels entering territorial waters.