Despite frequent attacks in recent days, the critical oil transport corridor through the Strait of Hormuz in the Middle East continues to operate. This "maritime lifeline" bears the heavy responsibility of transiting and exporting large volumes of crude oil.
Satellite imagery shows that multiple vessels are conducting ship-to-ship crude oil transfers on the outer side of the Strait of Hormuz, indicating that some tankers are still traversing these waters via "covert passage" methods. According to data collected by the EU's Sentinel-2 satellite on Monday, a total of 12 such transfer operations were monitored across a sea area stretching over 100 kilometers (approximately 62 miles) along the coasts of Oman and the UAE.
Based on compiled vessel tracking data and statistics from Kpler and Vortexa, at least four outbound Very Large Crude Carriers (VLCCs) have reappeared after passing through the Strait of Hormuz since last Saturday, collectively carrying approximately 8 million barrels of crude oil. Some of these vessels have previously conducted multiple transfer missions along this route, while others may be heading to refineries in various regions worldwide.
Against the backdrop of ongoing regional tensions, such transit and transfer operations provide critical support to the global energy market and have helped curb soaring oil prices to a certain extent. Statistics show that millions of barrels of crude oil are transported through this waterway daily, effectively alleviating supply shortfalls in the global market caused by the conflict.
However, this corridor is not without risks. The UAE's primary state-owned oil company, Abu Dhabi National Oil Company (ADNOC), is one of the most active enterprises exporting crude oil through the Strait of Hormuz during the war. The company revealed late last week that 15 of its vessels have already come under attack during the conflict. And just after that statement was issued, more vessels were attacked over the weekend.
ADNOC's shipping division stated on Tuesday that its most recent quarterly profits grew significantly due to "providing additional services to deliver UAE energy to the world." At the same time, soaring freight rates have also boosted profits.
Currently, most tankers departing the Strait of Hormuz choose to sail along Oman's coastline, and such vessels typically receive navigational assistance and protection from US forces during transit.
The right of passage through the Strait of Hormuz has remained a key point of contention in negotiations to end the Iran conflict. The Iranian side insists on having approval authority over transiting vessels and plans to levy passage fees; meanwhile, the US side has imposed a blockade on Iranian vessels to cut off its oil export flows.
Due to the continuous attacks targeting shipping, the number of shipowners still willing to enter the Persian Gulf remains relatively limited. This situation has directly driven up tanker freight rates — daily charter rates for benchmark routes are once again approaching the high of $500,000 per day.
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