Vortexa

Ga-Hyun Chung's Sinokor Group leases supertankers for the UAE's Abu Dhabi National Oil Co. to conduct covert 'dark' oil shipments through the Strait of Hormuz, enabling increased crude exports amid the Iran war. The UAE's strategy involved ships traveling without transponders and offloading cargo outside the strait, with Sinokor controlling nearly half of Emirati crude shipments by June.

Iran’s oil exports are increasing after the US sanctions waiver, with over 20 million barrels of crude waiting in Asian waters, a 18% weekly rise. Most cargoes lack confirmed destinations, with many heading to Singapore or indicating possible ship-to-ship transfers in the Malacca Strait. The 60-day relief aims to boost Iran’s revenue and strengthen its economic position in negotiations with the US.

Hapag-Lloyd warns of heightened risk and operational chaos in the Strait of Hormuz due to military strikes and conflicting routing directives. Iran is moving 4.12 million barrels of crude oil from Kharg Island, with U.S. airstrikes and Iranian retaliation escalating tensions.

Iranian crude prices have been significantly reduced as over 40 tankers carrying the oil were observed exiting the Hormuz Strait, primarily heading to Asian buyers, according to ship-tracking data from Bloomberg and Vortexa.

Iran is leveraging oil storage capacity and alternative export methods to resist a U.S. blockade on its oil exports, according to analysts. Experts suggest Iran can maintain production for weeks or months by using floating storage and smuggling networks, challenging initial estimates of a two-week window. The situation highlights tensions over the Strait of Hormuz and Iran's economic resilience.