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ReportedShipping, energy & marketsStrait of Hormuz

Kpler says a tanker is carrying Gulf crude to Europe for the first time since March

Mountain Time
Local time
4:41 PM in Jerusalem
Where
Strait of Hormuz

Kpler tracking data showed the Marshall Islands-flagged Advantage Victory, which passed through the Strait of Hormuz on May 27 with 2 million barrels of Iraqi crude, had set Rotterdam as its destination and was due on July 7, the first Gulf crude cargo bound for Europe since March 1. About 103 tankers carrying 185 million barrels of crude had left the Gulf through Hormuz since March 1, Kpler said.

Why it matters

Most tankers that left the Gulf after mid-April had gone to Asia or the Middle East, so a European cargo marked a small widening of the trade still getting out.

Sources (2)

Confidence: Published by a named news organization. Not yet independently confirmed. About confidence labels

Correction

  • Corrected the headline (it read "Kpler data shows first Europe-bound Gulf crude tanker since March"); revised the summary; revised the context note; corrected the location from Strait of Hormuz / Gulf-to-Rotterdam route to Strait of Hormuz; reclassified it from market to shipping; updated the sourcing note; added a source: Al Jazeera live blog. Why and evidence
Hormuz tanker route board labeled Victory Lap with one Europe-bound tanker and a risk-premium gauge.
One tanker clears the lane without clearing the risk premium. Illustration, not a photograph or evidence.