Shipping in the Strait of Hormuz is nearly stagnant! The Middle East's energy sector is struggling to find a way out as LNG suppliers unusually resort to ship-to-ship transfers.

Zhitong Finance APP has learned that although the U.S. and Iran continue to engage in a standoff over the strategic shipping route of the Strait of Hormuz, suppliers are still working hard to ensure that fuel can be transported from the Persian Gulf to global markets. Reports indicate that two liquefied natural gas (LNG) carriers appear to be conducting ship-to-ship transfers just outside the Strait of Hormuz. Images captured by the Copernicus Sentinel-2 satellite last Saturday show the Enugu LNG carrier moored near the coastal city of Sohar in the Gulf of Oman, anchored parallel to another vessel. This positioning is typically indicative of ship-to-ship operations, suggesting that the two ships may be transferring cargo.