Story perspectives

Oil to Asia, LNG to Pakistan, 20k Seafarers Stranded

5/26/2026

Summary

VLCC Eagle Verona Arrives

VLCC Eagle Verona left the Strait of Hormuz on May 23 with 2 million barrels of Iraqi Basrah crude, arriving in Ningbo, China, on June 12.
LNG tanker Fuwairit crossed the strait on Monday, was loaded at Qatar’s Ras Laffan around March 28, and will discharge in Pakistan on May 26.
Three VLCCs this month carried 6 million barrels to China and South Korea, while about 20,000 seafarers remain stranded on vessels trapped in the Persian Gulf.

Summary

Tankers AIS Shutdown

Three LNG tankers—Al Rayyan (owned by Kawasaki Kisen Kaisha) and Fuwairit (in a Mitsui OSK Lines Ltd and QatarEnergy) — turned off Automatic Identification System (AIS) transponders in Strait of Hormuz.
Bloomberg data show shutdowns began May 22 when Al Rayyan idled near Qatar’s Ras Laffan plant.
Qatar and the United Arab Emirates are sending shipments through the strait, which moves one-fifth of LNG, to supply China and Pakistan despite its closure.

Summary

UAE Exits OPEC

The UAE left OPEC on May 1 to pursue independent export routes through Hormuz.
ADNOC Logistics & Services began dark transits using Navig8-owned vessels and Wanhua Chemical Group partner after the OPEC exit.
Matt Wright, senior freight analyst at Kpler, said the move increased ADNOC’s risk-taking.
Sultan Al Jaber warned oil flows may not resume before 2027, noting India’s shift to Latin American and African crude could raise freight costs.

History

Historical Context

After the UAE launched the Habshan–Fujairah pipeline in July 2012, diverting most of its crude from the Hormuz choke point, the region has pursued alternate routes to curb risk. The 2026 Iran-Hormuz closure, which stopped about 20 % of global oil flow, now mirrors that strategy as recent UAE actions again test the strait’s capacity.

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VLCC Eagle Verona Arrives

VLCC Eagle Verona left the Strait of Hormuz on May 23 with 2 million barrels of Iraqi Basrah crude, arriving in Ningbo, China, on June 12.
LNG tanker Fuwairit crossed the strait on Monday, was loaded at Qatar’s Ras Laffan around March 28, and will discharge in Pakistan on May 26.
Three VLCCs this month carried 6 million barrels to China and South Korea, while about 20,000 seafarers remain stranded on vessels trapped in the Persian Gulf.

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