Tanker HELGA arrives at Iraq's Basra terminal to load crude, second since Hormuz closure, say sources

• HELGA is loading 2 million barrels of crude at Basra's offshore terminals, sailing under the Comoros flag
• Only two tankers have reached Basra's southern terminals since the Strait of Hormuz was closed, severely limiting Iraq's oil export capacity
• The previous tanker entered the Gulf via Hormuz on a second attempt during a temporary U.S.-Iran ceasefire

Summary: Tanker Operations Resume at Iraq's Basra Terminal Following Hormuz Closure

The oil tanker HELGA, flagged in Comoros, arrived at Iraq's southern Basra offshore terminal on Friday, April 24, marking the second vessel to reach the facility since the Strait of Hormuz closure. The tanker is preparing to load 2 million barrels of crude oil, according to port sources.

Key Developments:

The first tanker to arrive post-closure was the Malta-flagged Agios Fanourios I, which loaded approximately 2 million barrels of Basra crude earlier this month. Shipping data revealed this vessel successfully entered the Gulf through the Strait of Hormuz on a second attempt, having been among several tankers trying to transit during a U.S.-Iran ceasefire.

Market Implications:

The resumption of limited tanker traffic at Basra's terminals suggests crude oil exports from Iraq are gradually recovering despite the Hormuz closure. However, the fact that only two vessels have reached the terminal indicates continued severe disruptions to normal shipping operations through this critical waterway.

The Strait of Hormuz typically handles approximately one-fifth of global oil traffic, making its closure a significant supply risk. The slow pace of tanker arrivals—only two vessels loading 2 million barrels each—represents a fraction of normal Iraqi export volumes.

Significance:

Iraq is OPEC's second-largest producer, and its ability to export crude through alternative routes or during ceasefire windows will be crucial for global oil supply stability. The situation continues to pose upside risk to oil prices as market participants monitor whether shipping operations can normalize or if alternative export routes will be required.