ADNOC tanker tracked getting past Strait of Hormuz blockade

The first LNG cargo to exit the Gulf since the Iran war began appears to have been shipped by ADNOC, putting the Abu Dhabi national oil company at the center of efforts to test whether energy flows through the Strait of Hormuz can resume.

Ship-tracking data show the Mubaraz loaded at ADNOC’s Das Island terminal and has now moved beyond the Gulf, marking the first confirmed LNG transit since late February after weeks of near-total paralysis, Bloomberg reports. 

ADNOC declined to comment on the specific shipment. “This is a developing situation and ADNOC continues to monitor developments closely while prioritizing the safety and security of its operations, people and assets,” the company said in a statement.

The massive tanker, which ⁠is managed by Adnoc Logistics & Services and was last seen in the Gulf ​on March 30, has shown up off the west coast of India, suggesting ​it crossed the Strait of Hormuz after several weeks without signal.

Meanwhile, a $500 million superyacht linked to sanctioned Russian billionaire Alexey Mordashov crossed the  Strait of Hormuz over the weekend from Dubai to Oman, raising questions about how it secured clearance, Reuters reports.

Oil tanker daily rates hit $200,000 with Middle East tensions rising

Oil tanker shipping costs urged to their highest level in six years as traders scramble for vessels amid rising Middle East exports and mounting geopolitical tensions, with Saudi shipping giant Bahri moving to expand its fleet.

Daily rates for very large crude carriers, known as VLCCs, on the key Mideast route to Asia have more than tripled this year to approach $200,000, while crude prices themselves have climbed to a six-month high, reflecting tight vessel supply and stronger demand for oil shipments.

The spike has been fueled in part by India and other Asian buyers increasing purchases of Middle Eastern crude as they reduce reliance on Russian supplies, prompting Bahri to snap up additional ships to capitalize on the expanded market.

In his State of the Union address on Tuesday night, President Donald Trump warned Iran against further escalation in the region, heightening market concerns about potential disruptions to oil flows.

Additional upward pressure on freight costs has come from stronger Chinese oil demand, which is tightening tanker availability, while Iranian officials have renewed threats to the Strait of Hormuz, raising fears over a key global shipping chokepoint.