Full Breakdown
UAE’s Ghost Tankers Slip Through Hormuz Amid Iran Blockade
5/8/2026, 1:13:01 AM
Crude Moves Through Closed Strait
In April 2026 ADNOC moved at least six million barrels of Upper Zakum and Das crude on four tankers with AIS off. VLCC Hafeet (2 M bbl Upper Zakum) transferred cargo to Olympic Luck; VLCC Aliakmon I (2 M bbl Das) off-loaded at Oman; Suezmax Odessa and Zouzou N (1 M bbl each) sailed to South Korea. The Suezmax vessels are Dynacom-managed.
Background
After U.S.–Israeli strikes on 28 Feb killed Supreme Leader Ali Khamenei, Iran sealed Hormuz, blocking ~20 % of world oil and pushing crude above $100 / bbl. Saudi Arabia rerouted oil via the Red Sea; Iraq, Kuwait and Qatar halted or heavily discounted sales. ADNOC’s exports fell by >1 M bpd from 3.1 M bpd in 2025.
Data
Six million barrels are confirmed. Hafeet and Aliakmon I each carried 2 M bbl; Odessa and Zouzou N each carried 1 M bbl. One Upper Zakum cargo earned a $20 / bbl premium over ADNOC’s price. AIS shutdown mirrors Iran’s “ghost-fleet” evasion.
Official Responses
The UAE said Iranian drones hit the empty tanker Barakah; Iran denied involvement. ADNOC declined comment. U.S. officials noted ongoing naval actions and a pause of “Project Freedom” pending diplomatic progress.
Criticism
Analysts warn AIS shutdown reduces transparency and may hide larger volumes; sales suspensions by Iraq, Kuwait and Qatar show market wariness and raise safety concerns.
Ground Reports
Iranian drones struck Barakah on 4 May; a separate drone sparked a fire at Fujairah’s oil-industry zone with no casualties. U.S. forces sank six Iranian boats targeting civilian ships.
Conflicting Reports
Kpler confirms >=6 million barrels, but AIS blackout could hide higher volumes. Charterers of Dynacom-managed Suezmax ships remain unknown; Olympic Shipping and Dynacom gave no comment.
Quotes
- “We have mutually agreed that, while the Blockade will remain in full force and effect, Project Freedom … will be paused for a short period of time to see whether or not the Agreement can be finalized and signed.” — Donald Trump, President, United States
- “Operation Epic Fury is concluded.” — Marco Rubio, U.S. Secretary of State
- “The U.S. commanders who are on the scene have all the authority necessary to defend their unit and to defend commercial shipping — as we saw and demonstrated earlier today.” — Brad Cooper, Commander, U.S. Central Command
- “each and every threat had been defeated.” — Brad Cooper, Commander, U.S. Central Command
Next Steps
ADNOC told customers May loadings of Das and Upper Zakum will again use ship-to-ship transfers at Fujairah and Oman’s Sohar, while talks with Asian refiners continue. U.S.–Iran diplomatic overtures persist amid a fragile ceasefire, and the risk of further drone or missile strikes stays high.
