Gulf oil producers are assembling a fleet of nearly 230 tankers to maintain crude exports through the Strait of Hormuz despite heightened security risks and reluctance among independent shipowners to operate in
Gulf oil producers are assembling a fleet of nearly 230 tankers to maintain crude exports through the Strait of Hormuz despite heightened security risks and reluctance among independent shipowners to operate in the region, according to a weekly intelligence report from Windward Maritime dated October 29.
The report identifies five maritime developments, including changes to Gulf oil transportation, an oil spill threatening infrastructure in the United Arab Emirates, suspicious movements near subsea communications cables, continued Russian oil trading under sanctions pressure and shipping activity through the Bab el-Mandeb Strait.
Gulf states expand their tanker capacity
Windward describes the emergence of what it calls the “Arab Dark Fleet,” comprising tankers owned, managed, chartered or controlled by Gulf national oil companies and their trading and shipping affiliates. The fleet allows regional producers to move oil despite elevated freight costs and reduced availability of vessels willing to load at terminals in Iraq, Saudi Arabia, Kuwait, Bahrain, Oman and the UAE.
About 80% of the fleet consists of very large crude carriers (VLCCs). Many operate with their automatic identification systems (AIS) switched off, which Windward says reflects safety and security concerns. The vessels transport crude from terminals west of Hormuz to ship-to-ship transfer hubs
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