Japanese-owned liquefied natural gas tanker crosses the Strait of Hormuz

A Japanese-owned liquefied natural gas tanker has crossed the Strait of Hormuz, offering the clearest sign yet that tightly controlled commercial traffic may be resuming through one of the world’s most sensitive energy corridors after weeks of disruption linked to the war involving Iran. The vessel, SOHAR LNG, is the first Japan-linked LNG carrier confirmed to have made the passage since the conflict began on 28 February, according to shipping and company information published on Friday.

The crossing matters far beyond a single shipment. Hormuz is a narrow sea lane between Iran and Oman through which roughly a fifth of global oil and LNG trade normally passes, making any successful transit a closely watched indicator for energy markets, insurers, shipowners and governments. Reuters reported that Mitsui O. S. K. Lines, which co-owns the Panama-flagged tanker, said the crew were safe, though it did not disclose the precise timing of the transit or the arrangements that allowed the vessel through.

The move comes after a month in which LNG traffic through the strait had virtually seized up. Market trackers cited by the Wall Street Journal said no LNG ships passed through Hormuz during March, underlining how sharply the conflict had interrupted gas flows from the Gulf. The Japanese tanker’s voyage therefore stands out not as a full reopening of the route, but as evidence that selective transit is possible under conditions that remain uncertain and politically charged.

Japan has particular reasons to watch the waterway closely. Reuters reported earlier in March that about 90 per cent of its oil imports and around 6 per cent of its LNG imports normally move through Hormuz. That exposure has turned the conflict into an immediate energy security issue for Tokyo, even though the government has said short-term supply disruption from Qatar’s production halt would not trigger an immediate domestic shortage. Officials have signalled that utilities could lean on the spot market or swap supplies among themselves if needed, though such options usually come at a higher price.

Pressure on the LNG trade has also been amplified by damage in Qatar, one of the world’s largest exporters of the fuel. Reuters reported on 20 March that Iranian attacks had wiped out about 17 per cent of Qatar’s LNG capacity for up to five years, forcing QatarEnergy to prepare force majeure declarations on some long-term contracts. A separate Reuters report on 30 March said Fitch placed Qatar on Rating Watch Negative, reflecting wider concerns over security and revenue risks after the strikes on Ras Laffan Industrial City.

Against that backdrop, even a single successful LNG transit carries symbolic and commercial weight. It suggests that vessels tied to countries viewed as non-belligerents may be able to negotiate passage, provided they clear the military and political hurdles that now govern movement through the channel. Reuters has also reported that a French-owned container ship, CMA CGM Kribi, completed a Hormuz transit, with tracking data showing it sailing south off Oman after passage. That has reinforced the view among shipping analysts that Iran may be allowing limited flows case by case rather than restoring ordinary navigation.

Still, the broader picture remains fragile. The Reuters account on the Japanese tanker noted that 45 Japanese-owned or operated vessels had been stranded since the onset of the conflict, spanning LNG tankers, crude carriers, chemical tankers and car carriers. The fact that one LNG ship has crossed does not mean insurers, charterers and trading houses will immediately return to pre-war operating patterns. Risk premiums, crew safety considerations, cargo scheduling delays and the possibility of renewed military escalation continue to weigh on decisions across the sector.

For gas buyers in Asia and Europe, the crossing offers some relief but not certainty. LNG prices have been pushed higher by the twin shock of blocked maritime access and reduced Qatari output, while vessel availability has tightened after QatarEnergy offered tankers outside Hormuz for lease during the production stoppage. A partial revival of shipping could ease some logistical strain, yet the market remains vulnerable to interruptions if the security environment worsens or if access is restricted again without warning.