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First Korean oil tanker exits Hormuz with 2 mn barrels aboard

If it safely clears the strait, it is expected to arrive at its destination around June 8. The ship’s transit is widely viewed as the result of behind-the-scenes coordination among South Korea...

First Korean oil tanker exits Hormuz with 2 mn barrels aboard

(MarineTraffic)

A South Korean-flagged oil tanker carrying 2 million barrels of crude oil has begun its voyage home, marking the first such passage since the closure of the Strait of Hormuz.

Maeil Business found Wednesday that the crude carrier Universal Winner, owned by HMM and long chartered by global commodities trader Trafigura, is transporting Kuwaiti crude oil for SK Energy on a one-time charter arrangement.

The vessel loaded 2 million barrels of crude oil in Kuwait on March 4 and is currently heading toward Ulsan. The cargo is expected to be refined at SK Energy facilities.

Universal Winner entered the Strait of Hormuz area on Feb. 27, shortly before the outbreak of the conflict. The vessel later loaded 2 million barrels of Kuwaiti crude oil on March 4 and is currently sailing toward Ulsan. If it safely clears the strait, it is expected to arrive at its destination around June 8.

The ship’s transit is widely viewed as the result of behind-the-scenes coordination among South Korea, Iran and the United States.

The tanker had initially remained near Qatari waters before Iranian authorities informed the South Korean Embassy in Tehran on May 18 evening Korea time that passage would be permitted for one South Korean vessel through the Strait of Hormuz.

The vessel subsequently departed for the Gulf of Oman, first moving toward waters near Dubai and waiting overnight before attempting passage through the strait after daylight improved visibility.

The development came just one day after South Korean Foreign Minister Cho Hyun spoke with Iranian Foreign Minister Abbas Araghchi and requested clarification regarding the attack on the Namu vessel.

A Foreign Ministry official said the government shared relevant information with the shipping company, which then decided internally to proceed with the voyage.

“The vessel’s movement was coordinated with relevant countries including Iran to ensure safe navigation, and no separate payment was made to Iran,” the official said.

The official also suggested prior discussions with Washington, saying South Korea has been communicating closely with the United States on major issues.

The government reportedly selected priority vessels for Hormuz passage by considering factors including the number of South Korean crew members aboard and the urgency of cargo deliveries.

Seoul maintains that the Universal Winner’s transit is unrelated to the attack on the Namu vessel. Authorities are continuing broader negotiations aimed at securing safe passage for 25 other South Korean-linked ships still stranded in the region.

Officials are said to believe the successful passage reflects sustained diplomatic efforts, including four foreign minister-level calls and the dispatch of a special envoy to Iran since the outbreak of the Iran conflict.

Some observers speculate that Tehran may also have sought to manage relations with Seoul amid growing suspicions that Iranian-linked actors were responsible for the Namu attack.

South Korean authorities reportedly do not view the passage as conflicting with earlier warnings from the U.S. Department of the Treasury that shipping firms engaging with Iran could face sanctions over maritime safety concerns.

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