BUSINESS

Tankers Bypass Iranian Blockade, Raising Hope for Alternate Hormuz Route

Published: Apr. 3, 2026 5:27 p.m. GMT+8

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The Strait of Hormuz as seen from Musandam, Oman on March 2, 2026. Photo: VCG

A fleet of oil and gas tankers has traversed a previously unused route through the Strait of Hormuz, signaling the possible emergence of a second shipping corridor that could ease congestion and reduce reliance on waters closely monitored by Iran.

A convoy comprising two very large crude carriers (VLCCs) and one liquefied natural gas (LNG) vessel sailed eastward from the Persian Gulf through the strait on Friday, emerging near Oman’s Muscat port. The vessels, all operated by Oman’s state-owned Asyad Shipping Co., included one tanker owned by Industrial and Commercial Bank of China.

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Omani-operated convoy of 2 VLCCs and 1 LNG vessel used new Strait of Hormuz route near Oman's coast, avoiding Iran's "safe corridor," carrying Saudi/UAE crude eastward.
Crude prices (WTI, Brent) fell ~2%; route could ease congestion but Iran influence persists.
Oman formalizing route with portal/inspections; Iran seeks joint oversight, stricter fees amid tensions.

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Who’s Who

Asyad Shipping Co.: Asyad Shipping Co., Oman's state-owned operator, managed a convoy of two VLCCs (carrying Saudi/UAE crude) and one LNG vessel. They sailed eastward through the Strait of Hormuz via a new Oman-side route on Friday, switching off AIS during transit, emerging near Muscat. One tanker was owned by ICBC.

Industrial and Commercial Bank of China: One tanker owned by the Industrial and Commercial Bank of China was part of a convoy operated by Oman's Asyad Shipping Co., which sailed a new route through the Strait of Hormuz from the Persian Gulf eastward near Muscat.

QatarEnergy: A tanker chartered by QatarEnergy was struck by a cruise missile in the Strait of Hormuz on Wednesday, with no injuries or environmental damage reported.

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