With the ceasefire between the United States and Iran in a precarious state, a very large crude carrier (VLCC) owned and operated by Korean shipping company Janggeum Shipping (English name Sinoko) reportedly passed safely through the Strait of Hormuz, which Iran is blockading, earlier this month with its tracking device turned off.

Reuters reported on the 11th (local time), citing shipping data from Kpler and London Stock Exchange Group (LSEG), that three tankers recently exited the Strait of Hormuz with their tracking devices turned off, and that among them was the Janggeum Shipping VLCC ‘Basra Energy’.

‘Basra Energy’ loaded 2 million barrels of crude on the 1st at the Zirku crude export terminal operated by Abu Dhabi National Oil Company (ADNOC) in the United Arab Emirates (UAE), then crossed the Strait of Hormuz on the 6th.

It then discharged its cargo on the 8th at the Fujairah oil terminal in the UAE, which is outside the Strait of Hormuz.

It has not yet been confirmed which company chartered the vessel. Reuters said it requested comment but did not receive a response from Janggeum Shipping.

Janggeum Shipping is said to have built formidable market clout in recent years by consistently making bold ‘bets’ to buy or lease tankers. As of the end of last month, the number of VLCCs under Janggeum Shipping control is estimated at over 150.

From late January this year, Janggeum Shipping reportedly positioned at least six empty tankers in the Persian Gulf for four weeks.

In addition to the Janggeum Shipping tanker, on the 10th the VLCCs ‘Agios Panourios Ⅰ’ and ‘Chiara M’ also transited the Strait of Hormuz, each carrying 2 million barrels of Iraqi crude.

‘Agios Panourios Ⅰ’ is scheduled to unload crude on the 26th of this month at the Nghi Son refinery in Vietnam. After loading crude in Iraq on April 17, this vessel attempted to pass through the Strait of Hormuz at least twice and failed, but ultimately succeeded this time.

The destination of the San Marino-flagged ‘Chiara M’ is unknown. The ship is owned by a Marshall Islands-registered entity and managed by a company in Shanghai, China.

Reuters assessed that news of these three tankers transiting the Strait of Hormuz indicates growing efforts to maintain exports of Middle Eastern crude.