First Crude Cargo Exits Hormuz Amid U.S. Blockade Challenges

A Pakistani tanker, the Shalamar, becomes the first vessel to ship crude oil out of the Strait of Hormuz since the U.S. blockade began. This Aframax-sized tanker is now heading to Karachi with 450,000 barrels of crude, loaded at Das Island in the UAE. It's expected to arrive on April 19. Interestingly, the Shalamar faced challenges during its journey. It initially attempted to pass through the Strait on April 12 but turned back after news broke of stalled U.S.-Iran talks. Despite this shipment, traffic in the Strait remains heavily restricted, with 823 vessels still waiting in the Gulf. Windward reports that Iranian oil exports are still active, with about 153.7 million barrels currently on the water, primarily headed to China. The average daily export from Kharg Island is around 2.04 million barrels. Iran is using complex routes and tactics to navigate around the blockade. This matters because the flow of oil through such a critical chokepoint affects global oil prices and supply chains.