Israel‑Iran War LIVE: Tankers U‑Turn in Strait of Hormuz as Strikes Continue

Israel‑Iran War LIVE: In the past 24 hours, two oil tankers, each with a lot size of approximately 2 million barrels for crude oil, have passed through the Strait of Hormuz after they turned around due to the US strikes in Iran.

On Sunday, two vessels, the Coswisdom Lake and South Loyalty entered the Strait, but quickly turned to head away from their route, according to tracking data provided by Bloomberg. After stopping briefly, both tankers turned around and proceeded through the strait as planned, according to signals provided by both vessels on Monday.

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These events are all occurring at a point in time where US’s strikes on Iran have raised concerns of possible retaliation against US assets in the region, which could greatly affect the shipping of commercial goods through the region.

The positioning of these two tankers happens at a very sensitive time when shipbrokers, and others in the oil transport business, display careful interest in doing business in area due to fears of a military action.

On Sunday, Greece's shipping ministry recommended its shipowners avoid sailing through the Strait of Hormuz.

Even if the two tankers aren’t Greek, the warning from Athens reflects initial concerns about transiting through the Strait of Hormuz - an important shipping lane that accounts for about 20% of global oil movement. Greece has the largest oil tanker fleet in the world measured by deadweight tonnage.

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The report indicates that Coswisdom Lake is operated by Cosco Shipping Energy, while South Loyalty is operated by Sinokor Merchant Marine.

Caution signals remain in place among shipping companies globally. Two major Japanese shipping companies announced that they will limit their routes through the Strait of Hormuz, a critical sea route any ship must pass through to enter the Persian Gulf.

On Sunday, United States forces launched one of the largest air strikes in decades on Iran nuclear facilities at Fordow, Natanz, and Isfahan. President Donald Trump announced the air strikes and called them a tremendous success.

After the air strikes, Iran is now reportedly contemplating shutting down the Strait of Hormuz, according to EuroNews.

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