First Oil Tanker to Exit Hormuz since War Expected in Japan

Japan - one of Asia’s biggest importers of energy from the Middle East - flagged the impending arrival of the first Persian Gulf oil shipment to transit the contested Strait of Hormuz since the Iran war began.

The Idemitsu Maru, a very large crude carrier that passed through the waterway in late April, could dock as soon as Monday, according to the trade ministry. Hauling 2 million barrels of Saudi crude, the vessel is on track to arrive at Idemitsu Kosan Co.'s Aichi refinery, the Ministry of Economy, Trade and Industry said in a briefing document on Friday.

The war in the Middle East has led to the near-total closure of the maritime chokepoint, triggering an unprecedented energy supply shock and prompting mainstay importers across Asia to scour the globe for alternative crude and natural gas shipments. Along with other developed nations, Japan also moved to tap strategic reserves to cushion itself from the impact of the conflict.

While a handful of vessels have managed to navigate Hormuz, the overall tally of daily passages remains at a fraction of the pre-war total. Tehran is discussing with Oman how to set up a toll system to formalize its control of the conduit, the Iranian ambassador to France told Bloomberg this week.

A second Japan-linked tanker, the Eneos Endeavor, also crossed the chokepoint earlier in May. The Eneos Endeavor was not mentioned in the briefing.