No tankers have loaded at Kharg Island, Iran’s main oil export terminal, for at least a week, the Financial Times reported on Friday, citing shipping and satellite data providers, suggesting the renewed US naval blockade has brought the country's crude sales to a halt.
The US reimposed a naval blockade on Iranian ports in mid-July after an interim deal mediated by Pakistan to reopen the Strait of Hormuz collapsed.
Kharg Island, which is critical to Iran’s oil industry, fell idle on July 31, according to ship tracking company Kpler and consultancy Energy Aspects.
Satellite imagery showed that all three loading berths at Kharg had remained vacant for an extended period, according to maritime intelligence company Windward.
The company said just 16 vessels were waiting at anchor near the island on Tuesday, marking the smallest number recorded since the beginning of the previous month.
Nearly 90 percent of Iran’s crude exports are shipped from the small coral island in the northern Gulf, as most of the nation’s coastline lacks the depth needed for large oil tankers.
“The blockade is effective, in the sense that there is not a lot of tanker movement in or out,” said Richard Bronze, head of geopolitics at Energy Aspects.
However, Bronze argued that the interruption to exports is unlikely to force Tehran into making quick concessions in discussions with Washington.
“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.
