Strait of Hormuz Blockade Broken: First Oil Tanker Since the War to Dock in Daesan Next Month

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[Financial News]  Despite the fallout from the blockade of the Strait of Hormuz, one tanker that passed through the waterway is set to arrive at a port in South Korea.
According to industry sources on the 20th, the Malta-flagged tanker Odessa passed through the Strait of Hormuz on the 13th and is now heading to South Korea. It is the first crude oil tanker to enter the country through the strait since the war began. The vessel is a Suezmax-class tanker capable of carrying about 1 million barrels of oil, and it is scheduled to unload its cargo at an HD Hyundai Oilbank refinery.
According to the London Stock Exchange Group (LSEG) and ship-tracking firm Kpler, the vessel traveled with its Automatic Identification System (AIS) turned off during the voyage and was spotted again near the Port of Fujairah in the UAE on the 17th. Vessel location data provider VesselFinder said it is currently passing through waters off India and is expected to arrive at Daesan Port on the 8th of next month.
The roughly 1 million barrels of crude oil aboard Odessa amount to about half of South Korea's daily consumption. The cargo was contracted by HD Hyundai Oilbank and is expected to be stored after unloading and then refined at the Daesan Petrochemical Complex. A company official said, "It is true that the vessel is scheduled to arrive, but it is difficult to confirm the specific contract details."
Earlier, Iran effectively blocked the Strait of Hormuz in retaliation after war broke out on Feb. 28 following attacks by the U.S. and Israel. The strait is a key chokepoint through which about 20% of global seaborne energy trade passes. Iran announced the reopening of the strait on the 17th, but moved to block it again just one day later.
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solidkjy@fnnews.com Gu Ja-yun Reporter