Iraq will lease at least two more oil tankers to strengthen control over oil transportation

智通财经2026/10/05 14:56

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According to foreign media reports, Iraq is preparing to charter additional oil tankers, with at least two tankers set to be in place in the coming days. The country is seeking to strengthen its control over the transportation of its oil through the highly contested Strait of Hormuz. The state-owned Iraqi Oil Tanker Company is expected to charter at least one Very Large Crude Carrier (VLCC) and one smaller Suezmax tanker in the near future, and is also planning to reissue tenders to charter more tankers. This move marks a shift in Iraq’s strategy. Iraq has been especially affected by Middle East conflicts as the country previously had no oil tankers of its own and has had to sell crude at a steep discount to attract customers willing to take on the risks of sending ships deep into the Gulf to load oil. Sources revealed that domestic Iraqi companies have already purchased at least two supertankers, one of which cost around $200 million in a transaction last month. Data shows this price would set a historical record for such vessels. According to sources, the lease term for Iraq's chartered tankers will last through the end of this year.

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According to foreign media reports, Iraq is preparing to lease more oil tankers, with at least two tankers expected to be in place in the coming days. The country is seeking to strengthen its control over the transportation of its oil through the highly contested Strait of Hormuz. The state-owned Iraq Oil Tanker Company is expected to lease at least one Very Large Crude Carrier (VLCC) and one smaller Suezmax tanker in the next few days, and also plans to relaunch tenders to lease more tankers. This move marks a shift in Iraq’s strategy. Iraq has been particularly hard hit by the Middle East conflict because it does not own any oil tankers itself and has had to sell crude oil at deep discounts to attract buyers willing to take on the risk of sending ships deep into the Gulf to load oil. According to informed sources, domestic Iraqi companies have already purchased at least two super tankers, one of which cost about $200 million in a transaction last month. Relevant data indicate that this price will set a historic record for such vessels. Sources said that the charter period for the tankers leased by Iraq will last until the end of this year.

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Brent crude oil fell by 2% during intraday trading, currently quoted at $100.19 per barrel. As one of the core international oil benchmarks, fluctuations in Brent crude prices often have interconnected impacts on the global energy market, transportation industry, and inflation trends in multiple countries. This recent decline has also attracted widespread attention from market participants.

智通财经•2026/10/05 18:46