How a New “Arab Dark Fleet” Keeps Hormuz Oil Flowing

Gulf oil producers have gained control of a fleet of nearly 230 tankers that have defied Iran to ship oil through the Strait of Hormuz and keep the chokepoint open to global trade.

The giant fleet is owned, managed, chartered or controlled by Gulf national oil companies or their trading and shipping arms and is designed to cut reliance on chartering tankers on the spot market.

Despite very high freight rates, fewer shipowners will send tankers to load at oil terminals in Iraq, Saudi Arabia, Kuwait, Bahrain, Oman or the UAE. The result is a new fleet, the Arab Dark Fleet, solely deployed by Gulf states and dedicated to keeping their oil flowing.

The “Arab Dark Fleet” is the biggest shift in how Gulf national oil companies run their freight, logistics, and supply chains since the Tanker War of the 1980s.

This story was originally published by Hellenic Shipping News. Read the full story at Hellenic Shipping News →