The first of seven Malaysian-owned commercial vessels stranded in the Strait of Hormuz has safely transited the waterway and is now en route to its final destination, Malaysia’s foreign ministry said on Tuesday (7th April).
The ministry said the development followed high-level diplomatic engagement between the leaders and foreign ministers of Malaysia and Iran in March.
Reuters reported on 5th April, citing LSEG and Kpler data, that the vessel is an oil tanker carrying Iraqi crude. It is chartered by a unit of Malaysia’s national energy company Petronas and is due to discharge its cargo in Pengerang, Johor, in mid-April.
The announcement came a day after the Iranian embassy in Malaysia posted on social media platform X: “We had said that the Islamic Republic of Iran does not forget its friends.”
The Strait of Hormuz, which connects the Persian Gulf and the Gulf of Oman, has been effectively blocked by Iran following strikes by the US and Israel that began on 28th February.
The waterway is a critical global shipping route. About 25% of the world’s seaborne oil trade passes through it, with 80% bound for Asia, according to the International Energy Agency. Around 19% of global liquefied natural gas trade also transits the strait.
Shipping activity has dropped sharply. Maritime information service Lloyd’s List reported that 142 vessels transited the strait since the start of March, roughly equivalent to its usual single-day traffic. Of that, 67% had direct links to Iran through trade or ownership.
Iran’s Revolutionary Guards said on Sunday (5th April) that they are preparing to enforce new operating conditions, warning that the passage will “never return to its normal status, especially for the US and Israel”.
Iran’s ambassador to Malaysia, Valiollah Mohammadi Nasrabadi, said the remaining six Malaysian vessels would be allowed through “one by one”.
Prime Minister Anwar Ibrahim and Iranian President Masoud Pezeshkian spoke by phone on 26th March. Anwar said Tehran had agreed to allow Malaysian vessels safe passage and expressed his gratitude.
“Do you think it’s easy to persuade the Iranian president to allow our ships through the Strait of Hormuz? Look at how many countries have made statements as firm as Malaysia’s – we deserve some credit,” Anwar said on Sunday at a Johor convention of his Parti Keadilan Rakyat.
Malaysia reiterated its commitment to freedom of navigation and maritime security in accordance with international law, and stressed the importance of continued dialogue to maintain regional peace and stability.
Nearly 70% of Malaysia’s crude oil imports come from the Gulf, with 40% of total supply passing through the Strait of Hormuz.
Anwar said Malaysia’s energy supply is expected to remain sufficient at least until June.
“For now, projections for May and June (show) there may be some price disruptions, but (regarding) the supply for the next few months, we are quite sure of that,” he said during a dialogue in Kuala Lumpur, as reported by Bernama.
He attributed the stability to Petronas’ global network, long-standing relationships with oil-producing countries, domestic LNG production, and imports from Australia and Canada.
Iran has allowed vessels from several countries to pass, including China, Russia, India, Pakistan, Iraq and Bangladesh. It has also indicated that ships from “non-hostile” nations would be facilitated safe passage.
Tankers from Thailand, France, Oman and Panama have reportedly transited the strait. A Thai oil tanker operated by Bangkok Corporation Plc passed through on 23rd March and is expected to deliver crude in early April.
Indonesia said on 28th March that it is in talks with Iran to secure safe passage for its vessels, although no Indonesian tankers have yet been reported to have transited.
Iran’s parliament is also considering a US$2 million transit fee for vessels, though Malaysia has said its ships would be exempt.
Of the seven Malaysian-linked vessels, three are owned by Petronas, two by MISC Bhd, and one each by Sapura Energy and Shapadu Corporation.
The safe passage of the first vessel underscores Malaysia’s diplomatic efforts to safeguard its energy imports amid ongoing regional instability.
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