Japan-linked oil tankers return to Middle East waters

Japan-linked oil tankers have been seen loading Middle East cargo directly from the region for the first time since the war began in February. Japanese refiners and shipowners, who had long stayed away due to conflicts in the region, have entered a period of operational change.

Withdrawal from the Region After the Conflict

Throughout the conflicts that have lasted for over seven months in the Persian Gulf, risk-averse Japanese refiners and shipowners stayed away from the region entirely.

During this process, while trying to protect tankers, crews, and cargoes, dependencies on sellers increased due to long-distance transshipments.

Long-Distance Transshipment Methods

To mitigate risks, Japanese refiners and shipowners turned to long-distance ship-to-ship transfer operations conducted off the coast of India or in Southeast Asia.

However, this situation led to missed opportunities for higher profits while causing some Japanese tankers around the Gulf to remain stranded for months.

Normalization Starting with Idemitsu Maru

Vessel tracking data revealed that the Idemitsu Maru, a supertanker belonging to Idemitsu Kosan Co. that left the Gulf in April, has become active again.

Loaded to full capacity with Omani crude oil at the Mina Al Fahal terminal, the tanker reached Japan earlier in the month.

Increase in Ship-to-Ship Transfers

Japanese shipowners and refiners have also increasingly turned to ship-to-ship transfers in Middle East waters.

With this method, which was applied on a small scale in August, approximately 3.7 million barrels of shipments were carried out by early October.