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Tankers have stopped loading at Kharg Island, Iran's principal oil export terminal, for at least a week, the Financial Times reported Friday, citing data from shipping and satellite tracking firms. The disruption suggests a renewed US naval blockade has effectively frozen the country's crude exports.
The blockade returned in mid-July after an interim agreement, brokered by Pakistan, to reopen the Strait of Hormuz fell apart.
Kharg Island, which handles nearly 90% of Iran's crude exports because most of the country's coastline is too shallow for large tankers, went idle on July 31, according to ship tracking company Kpler and the consultancy Energy Aspects.
Satellite imagery reviewed by maritime intelligence firm Windward showed all three loading berths at the island had sat empty for an extended stretch. Windward also found that only 16 vessels were anchored near Kharg on Tuesday, the lowest count recorded since the start of the previous month.
Richard Bronze, head of geopolitics at Energy Aspects, said the impact on tanker traffic has been clear. "The blockade is effective, in the sense that there is not a lot of tanker movement in or out," he said.
Despite the halt in exports, Bronze said he does not expect the pressure to push Iran toward fast concessions in its talks with Washington. He said Iranian officials believe they hold the stronger position over the Strait of Hormuz and are prepared to absorb significant economic damage to maintain that leverage.
"It is pretty clear the Iranians feel they have the upper hand when it comes to Hormuz and they are willing to tolerate a lot of economic pain to press their advantage," he said.
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