With the U.S.-Iran ceasefire agreement allowing limited access to the Hormuz Strait, South Korean vessels are increasingly able to exit the waterway. As expectations for normalized navigation rise, many ships may soon reenter the strait for oil transport. However, the government maintains that it cannot permit national vessels to reenter due to the incomplete nature of the ceasefire discussions.
According to the Ministry of Oceans and Fisheries and the shipping industry, five South Korean vessels, including HMM's bulk carrier Narae, received permission from the Persian Gulf Shipping Authority (PGSA) to pass through the Hormuz Strait and have exited the waterway.
The Narae, which transports advanced materials necessary for transformers and plant construction, was stuck in the strait for about four months due to the outbreak of war between the U.S. and Iran.
The previous day, four South Korean vessels, including HMM's large container ship Daon and the very large crude carrier (VLCC) Universal Glory, also received PGSA clearance and exited the strait.
The Daon is set to dock at Oman’s Sohar Port to load and unload cargo before making its way to various ports in East Asia, ultimately arriving at Busan. The Universal Glory, carrying 2 million barrels of Saudi Arabian crude oil, is expected to arrive at Yeosu Port next month to deliver oil to GS Caltex.
The government prioritizes the safety of national vessels and is focused on ensuring that all 12 South Korean ships remaining in the strait, excluding the Namu, which is under repair in Dubai, are evacuated this week.
Conversely, the shipping industry is discussing the potential for South Korean VLCCs, tankers, and chemical carriers to reenter the strait. This is driven by the need for oil-producing countries in the Middle East, such as Saudi Arabia, the United Arab Emirates, and Kuwait, to expedite the recovery of oil fields and transport crude oil and petroleum products quickly out of the strait.
In fact, dozens of VLCCs and tankers are waiting outside the strait in the Gulf of Oman for PGSA clearance, with at least five South Korean vessels reported to be among them.
The Ministry of Oceans and Fisheries strongly opposes the reentry of national vessels into the strait, citing unresolved ceasefire negotiations and safety issues, including the removal of mines laid during the conflict. However, as South Korea seeks to normalize oil prices, there is pressure to increase the transport of crude oil and petroleum products through the strait. A decision on the timing of national vessels' reentry is expected to be made soon through consultations among relevant ministries, including the Ministry of Oceans and Fisheries, the Ministry of Foreign Affairs, and the Ministry of Trade, Industry and Energy.
An industry insider noted, "Currently, the Hormuz Strait is experiencing bottlenecks due to PGSA navigation procedures, affecting both exits and reentries. For the next three months, it is likely that vessels waiting at the strait's entrance will either receive government approval to enter or head to alternative ports such as Yanbu in Saudi Arabia or Fujairah in the UAE."
* This article has been translated by AI.
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