China tankers join line to test Hormuz exit and US-Iran truce

Follow our live coverage here.

Two fully laden Chinese oil tankers in the Persian Gulf are approaching the Strait of Hormuz, potentially putting them on track to become the first such vessels to cross under a day-old US-Iran ceasefire, even as shipowners scrutinise the status of the narrow waterway.

The Cospearl Lake, linked to China’s state-owned Cosco Shipping, and He Rong Hai, owned by a smaller entity, appeared to be travelling east in the Persian Gulf at near top speeds early on the morning of April 9, ship-tracking data show. Both are signalling Chinese ownership on their tracking systems, a move typically done for safety ahead of Iran-approved transits.

A successful crossing is not yet guaranteed, as several vessels have turned back at the last moment and there has been little change in traffic over the past day. Should the two cross – on their current trajectories, that could be later on April 9 – they would be the first large, non-Iranian tankers to make it through since the truce was announced. 

Iran and the US agreed to a pause in fighting in exchange for the opening of the Strait, but a lack of clarity on what was agreed and continued fighting – including Israeli strikes in Lebanon – have raised questions about the ceasefire.

US President Donald Trump on April 7 said the Strait would be open. Iran, by contrast, has said its armed forces will control traffic and has sent broadcasts informing ships the Strait remains closed. It has also designated safe routes for vessels entering and exiting the Strait.

The Chinese ships – should they succeed – would be notable for their cargoes. One is carrying Iraqi crude, and the other, Saudi. While Iran has referred to “brotherly” Iraq, most other transits have been granted to friendly nations.

Cospearl Lake’s passage would also mark the first such attempt by a Cosco oil tanker in the six-week war. Cosco, like other large shipping firms, tends to be conservative, and its crude carriers have been trapped since US and Israeli strikes on Iran began, prompting Iran to all but close Hormuz in retaliation.

The two very-large crude carriers idled in the middle of the Persian Gulf as part of a group of tankers for most of March. On the morning of April 9, they began sailing eastward. 

Late in March, two Cosco container ships took a similar route before veering north along the Iranian coast, a path pursued by others that have made successful, Tehran-sanctioned exits. Beijing later acknowledged that it had worked with relevant parties to extract Chinese ships from the Gulf, but did not name the vessels.

Cospearl Lake is operated by Cosco Shipping Energy Transport (CSET), maritime database Equasis shows. Its registered owner is Cospearl Lake Maritime, which shares the same address as CSET. The ship entered the gulf in late January, spending some time ballasting off Dubai, before sailing to Iraq’s Basrah to pick up nearly two million barrels of crude in early March.

China Cosco Shipping, CSET’s parent company, did not immediately reply to an e-mail seeking comment.

He Rong Hai sailed into the gulf just before the war broke out in late February. It picked up its more than two million barrels of crude from Saudi Arabia’s Juaymah terminal in early March.

Its owner is listed as Hainan Herong Shipping, according to Equasis, which shares the same address as its manager Shanghai Yucheng Shipping. No contact details were listed for either. BLOOMBERG