Introduction 1-Data: A Japanese-owned oil tanker crosses the Strait of Hormuz
To add details, background, and a statement from the Ministry of Foreign Affairs
TOKYO, May 14 (Reuters) - A Panamanian-flagged crude oil tanker operated by Japan's Ineos refiner passed through the Strait of Hormuz on Thursday, ship-tracking data from the London Exchanges Group showed, in the second such transit by a vessel linked to Japan.
Before the outbreak of the Iran-Iraq War, which caused a major disruption to energy supplies through the Strait, Japan relied on the Gulf region for about 95 percent of its oil imports.
Miyata Tomohide, chief executive of Ineos, Japan's largest refining group, told reporters on Thursday that the tanker had safely crossed the strait and was expected to arrive in Japan in late May or early June.
According to Kpler data, the tanker is carrying 1.2 million barrels of Kuwaiti crude oil and 700,000 barrels of UAE Das crude blend. The shipments were loaded in late February, and the ship was expected to arrive in Japan on June 3.
Since the outbreak of war at the end of February, Japan has intensified diplomatic efforts, turned to alternative sources to compensate for supply shortages, and stabilized domestic fuel prices by providing massive government subsidies.
The Japanese Foreign Ministry said in a statement that the government is in direct contact with Iran regarding the tanker's passage through channels including the embassy in Tehran. Prime Minister Sanae Takaichi spoke by telephone with Iranian President Masoud Pezeshkian last month.
The ministry added that the government will continue its diplomatic efforts and will coordinate with relevant parties to remove another 39 Japan-linked vessels from the Gulf.
The latest transit follows another in late April by the tanker Idemitsu Maru, loaded with Saudi crude and operated by a unit of Japan’s Idemitsu Kosan refiner.
Idemitsu, Japan’s second-largest oil refining group, predicted this week that the Strait of Hormuz would reopen between July and September, with benchmark oil prices in Dubai falling to pre-war levels by the end of March 2027, the end of the next fiscal year.
As Japanese refineries resorted to drawing on strategic stockpiles and increasing alternative supplies from sources such as the United States and the Caspian Sea region, refinery consumption volumes began to return to normal levels this month, exceeding 70 percent for the first time since late March.
A giant Chinese oil tanker carrying Iraqi crude crossed the Strait of Hormuz on Wednesday and left the Gulf ahead of the Beijing summit between the presidents of China and the United States.
Iranian Foreign Minister Abbas Araqchi visited Beijing last week.
