First tentative move after the ceasefire! Two Japanese VLCCs head for the Strait of Hormuz, each carrying 2 million barrels of crude oil.

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After the ceasefire between the US and Iran, the first tentative movements have appeared among the oil tanker fleet that had been stranded in the Persian Gulf for over a month, but the outlook for passing through remains highly uncertain.

According to media reports, two Very Large Crude Carriers (VLCCs) under Mitsui O.S.K. Lines—Mayasan and Yakumosan—began moving eastward in the Persian Gulf towards the Strait of Hormuz on Thursday night local time.

Each vessel is carrying about 2 million barrels of crude oil and has been anchored near Ras Tanura, Saudi Arabia, since mid-March. At the same time, a Greek-flagged product tanker, Sea Condor, has also been moving toward Hormuz.

However, the timetable for reopening the passage remains unclear. Earlier this week, Trump announced a ceasefire and said Hormuz would be "fully open," but on Thursday he criticized Iran for being "very bad" in releasing tankers. After a brief increase in traffic over the weekend, passage through the Strait slowed again, and most shipowners say the current situation is still unclear and not yet suitable for attempting transit.

Fleet Gathers, Cautiously Moves East

Since the US and Israel launched strikes on Iran in late February, hundreds of ships have been trapped in this 1000-kilometer-long Persian Gulf passage. Following the ceasefire agreement, some shipowners began reassessing their options, and vessels gradually started gathering near the Strait of Hormuz entrance.

The Mayasan entered the Persian Gulf a few days before the outbreak of hostilities, loading crude oil in the UAE and Saudi Arabia in late February, with its destination set for Tomakomai, a port in northern Japan.

The Yakumosan also entered the Gulf in late February, received Qatari crude oil from a floating storage vessel in early March, then loaded more cargo at Juaymah, Saudi Arabia, and has been anchored near Ras Tanura for several weeks. Its current destination is marked as a rally point near Das Island, UAE.

The Greek-flagged product tanker Sea Condor entered the Persian Gulf around the same time, loaded fuel in Kuwait, and is now heading for Sharjah. The vessel is owned by Turandot Marine Co. and shares contact details with its manager, Athens-based Pantheon Tankers Management, which declined to comment.

Mitsui O.S.K. Lines: Safety First, Cautiously Observing

Both VLCCs are managed by Mitsui O.S.K. Lines. According to vessel database Equasis, Mayasan is owned by Mitsui O.S.K. Lines while Yakumosan's owner Phoenix Ocean Corp. shares the same registered address as Mitsui O.S.K. Lines.

Jotaro Tamura, president of Mitsui O.S.K. Lines, said on Thursday that unless the details and implementation of the ceasefire are fully verified, the company will not allow its tankers to attempt passage through the Strait of Hormuz. Mitsui O.S.K. Lines had already withdrawn at least one vessel from the Persian Gulf before the ceasefire agreement was reached this week.

Regarding the eastward movements of the two vessels, Mitsui O.S.K. Lines stated it could not comment on "the status or operational measures of individual vessels," reiterating that the company's top priority is ensuring the safety of crew, cargo, and ships.

Sanctions Risks and Passage Barriers Remain

Even though the ceasefire agreement is now in effect, the obstacles facing shipowners go far beyond safety concerns. It is reported that Iranian authorities require ships to pay certain fees in exchange for safe passage, but such payments may expose relevant companies to legal risks of violating sanctions, putting shipowners in a dilemma.

Currently, traffic through the Strait of Hormuz remains sluggish. According to data tracked by Bloomberg, ships passing through since the ceasefire are mainly those with Iranian ties. Although the Trump administration remains optimistic about reopening the Strait, public criticism on Thursday shows that disagreements between the US and Iran over passage arrangements have not been resolved.

Against this backdrop, the eastward shift of the Mayasan and Yakumosan is interpreted by the market more as a tentative repositioning rather than a clear signal of imminent transit. The energy market's expectations for a return to normalcy in passage through Hormuz will have to wait for more concrete progress to be confirmed.

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