Author: Shariq Khan, Jonathan Saul and Arathy Somasekhar
NEW YORK/LONDON/HOUSTON, March 11 (Reuters) – Iranian crude continues to flow through the Strait of Hormuz at near-normal rates despite attacks on ships in the narrow waterway linked to Tehran that have sharply reduced exports from other Gulf countries, a Reuters review of tanker tracking data showed.
According to an analysis by TankerTrackers.com, Iran has exported about 13.7 million barrels of crude oil since Israel and the United States launched attacks on Iran on February 28. TankerTrackers.com is a maritime intelligence company that specializes in tracking the so-called Shadow Fleet, a network of ships used to transport oil and gas from countries subject to Western sanctions.
Ship tracking service Kpler expects Iranian exports to be even higher in the first 11 days of March, at about 16.5 million barrels.
Iran’s retaliation for Israeli and U.S. attacks has included attacks on ships in the Strait of Hormuz and energy infrastructure across the Middle East, bringing the transit of non-Iranian ships through the main gateway for much of the Middle East’s oil exports to a virtual standstill and forcing regional producers to cut output.
Iran’s ability to continue exporting oil without any reports of interceptions stands in stark contrast to what has happened during the U.S. military campaign in Venezuela, which has included a naval blockade of the Latin American country and the seizure of ships trying to enter and exit Venezuelan waters.
“I am surprised that the United States, which succeeded in seizing vessels linked to Venezuela in December, did not launch a similar operation before this conflict broke out or is currently doing so,” said David Tannenbaum, director at consulting firm Blackstone Compliance Services.
Still, U.S. efforts to stop Iran-linked tankers could lead to more attacks on ships passing through the Strait of Hormuz, said Next Barrel oil and shipping analyst Matias Togni.
James Lightbourn, a shipping financier and founder of maritime investment and advisory firm Cavalier Shipping, said Iran has an incentive to keep the Strait of Hormuz open at least to some extent as long as Iranian ships pass through the area.
“A complete closure of the strait, such as laying mines, would reduce Iran’s losses if the U.S. seized the oil tanker,” Lightbourne said.
U.S. President Donald Trump’s White House did not immediately respond to a request for comment on whether Washington plans any action on Iranian oil exports.
Iran’s export growth remains unchanged from last year
