Shipping
Oil Tankers U-Turn, Rush to Middle East Before Hormuz Reopening
Two oil tankers, Suezmax Kapodistrias 21 and Very large crude carrier Coslucky Lake, have reversed course in the Indian Ocean this week, redirecting to Fujairah in the United Arab Emirates instead of their original African destinations. The diversions follow a US-Iran interim peace agreement to reopen the Strait of Hormuz, with empty supertankers waiting in the Gulf of Oman rising to about 60 this week, up from three dozen earlier in June.
