TOKYO, May 26 (News On Japan) - The arrival of the crude oil tanker Idemitsu Maru at Nagoya Port on May 25th marked the end of a weeks-long ordeal caused by the closure of the Strait of Hormuz, while also highlighting how dramatically Japan's oil procurement system has changed amid escalating tensions in the Middle East. The tanker had departed Saudi Arabia on March 16th carrying around 2 million barrels of crude oil destined for Japan, but shortly afterward became trapped along with numerous other vessels when the Strait of Hormuz was effectively sealed off following the escalation of conflict involving Iran and the United States. Crew members aboard stranded ships were reportedly forced to rely on supply runs from the Saudi coastline using smaller vessels to obtain food and drinking water as the blockade stretched on far longer than initially expected. After finally passing through the Strait of Hormuz on April 29th, the Idemitsu Maru spent another four weeks at sea before arriving safely in Nagoya. The shipment carried approximately 300 million liters of crude oil, yet that amount represents only around 0.6 days of Japan's total daily oil consumption, underlining the scale of the country's dependence on imported energy. The crisis has triggered a major shift in Japan's energy procurement strategy. Before the conflict, nearly all crude oil imports from the Middle East passed through the Strait of Hormuz, one of the world's most strategically important chokepoints. Since the disruption, however, Japanese refiners and trading houses have increasingly turned toward crude supplies routed outside the strait, while imports of American crude oil have also risen sharply. Industry analysts say Japan is now relying heavily on a combination of alternative shipping routes, emergency stockpile releases, and increased purchases from the United States in order to stabilize domestic fuel supplies. Recent concerns surrounding refinery operations inside Japan have added further pressure to the country's energy security outlook. Earlier reports revealed operational issues and fire-related damage at key refining facilities, including disruptions affecting output at major domestic refineries. Experts warn that even if maritime routes fully normalize, damaged oil infrastructure across parts of the Middle East could take years to rebuild, delaying any return to pre-crisis supply conditions. Another crude oil tanker, the ENEOS Endeavor, is currently heading toward Japan and is expected to arrive within about five days. The vessel is believed to be near Southeast Asia and carries a volume of crude similar to that of the Idemitsu Maru. However, its shipment also amounts to less than a single day's worth of Japan's oil consumption. The situation has renewed debate over Japan's heavy reliance on imported fossil fuels and the vulnerability of supply chains tied to geopolitical flashpoints overseas. Energy specialists have increasingly warned that even temporary disruptions in the Strait of Hormuz can rapidly affect fuel prices, refinery operations, logistics networks, and broader economic activity across Japan. Source: CBC
TOKYO, May 26 (News On Japan) - The arrival of the crude oil tanker Idemitsu Maru at Nagoya Port on May 25th marked the end of a weeks-long ordeal caused by the closure of the Strait of Hormuz, while also highlighting how dramatically Japan's oil procurement system has changed am…
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The Houthis in Yemen have announced a blockade of Saudi Arabian shipping through Red Sea ports, including at the Bab el-Mandeb strait. The group, described as Iran-backed, stated the measure would target the top oil exporter following recent exchanges of fire.
Reports indicate this could add to existing maritime disruptions in the Strait of Hormuz linked to US-Iran confrontations.
A Reuters poll of economists conducted July 7-16 shows that most Gulf Cooperation Council economies are now projected to contract more sharply in the current year than estimated three months earlier, with median forecasts indicating declines of 8.1% for Kuwait and Qatar, 5.
1% for Bahrain, and 0.5% for the UAE. Saudi Arabia and Oman remain the only GCC economies expected to expand. The poll links the revisions to reduced export volumes through the Strait of Hormuz, higher freight costs, and weaker investor sentiment, even as oil prices have risen.
Initial reports indicate that a limited number of vessels transited the waterway during the first full day after the United States implemented a naval blockade of Iran. These observations have not been independently verified.
The head of the UN’s nuclear agency yesterday signaled that Iranian nuclear enrichment sites would be visited by his inspectors, a key component in the interim deal between the US and Iran to reach an end to their war. The comment by International Atomic Energy Agency (IAEA) Director-General Rafael Grossi was the firmest yet from the agency, which is viewed as key in determining the status of Iran’s nuclear stockpile.
Since Israel launched a 12-day war on Iran last year, the IAEA has been blocked by Tehran from visiting enrichment sites where the Islamic republic is believed to store enough highly enriched uranium to potentially build as many as 10 nuclear weapons.
Photo: AP Iran has said that its program is peaceful, although it would be the only country in the world to have uranium enriched up to 60 percent purity without a weapons program. The US and Iran offered contradictory remarks on Tuesday about whether those sites would be inspected.
“I can understand political statements, they are part of the reality, but the fundamental thing I would like to remind you and draw your attention to is that there has been a memorandum of understanding, signed by both presidents,” Grossi told journalists at a news conference at the Fukushima Dai-ichi nuclear power plant.
The accord “explicitly states that the nuclear activities that are going to be carried out with the regards of the nuclear material facilities will be supervised by the IAEA — in all letters,” he said. “Obviously, to do that, we have to inspect,” Grossi added.
BOOST: By operating the same advanced systems as the US military, Taiwan would be better positioned to share and integrate intelligence with partners, an expert said The first batch of MQ-9B SkyGuardian drones has arrived in Taiwan, and is being assembled and tested by drone manufacturer General Atomics and the military ahead of flight trials as part of the air force’s acquisition to bolster its aerial surveillance capabilities, a source said yesterday.
The air force allocated a budget of NT$21.7 billion (US$687 million) from 2022 to 2029 to procure four MQ-9B uncrewed aerial vehicles (UAVs) manufactured by General Atomics along with associated equipment such as ground control stations. The US has agreed to deliver the four MQ-9Bs to Taiwan in two batches this year and next ‘BRAZEN’: The holiday did not stop China from activities that infringe on Taiwan’s maritime jurisdiction, but the CGA is ready to defend the nation, Kuan Bi-ling said Beijing is intensifying maritime pressure on Taiwan, but the nation will never yield, Ocean Affairs Council Deputy Minister Sung Chen-en (宋承恩) said.
The Coast Guard Administration (CGA) has adopted a “shadowing and monitoring” approach to avoid falling into a Chinese trap to escalate tensions and deepen the conflict, Sung said in an interview published yesterday in the Chinese-language Liberty Times (the Taipei Times’ sister newspaper).
China Coast Guard formations patrolling waters east of Taiwan, as well as official Chinese vessels entering areas around Itu Aba Island (Taiping Island, 太平島) and Pratas Islands (Dongsha Islands, 東沙群島) show Beijing’s attempts to significantly step up Taiwanese firms’ China investments have dwindled to less than 1 percent of their total foreign investments, putting China-based investments on track for a record low this year, Ministry of Economic Affairs data showed.
Taiwan’s investments abroad in the first five months of this year reached US$35.92 billion, Department of Investment Review data showed. Investments outside China totaled US$35.61 billion, up 133.94 percent year-on-year, while investments in China totaled US$310.
3 million, down 32.3 percent and about 0.86 percent of the total, data showed. Major overseas projects included Taiwan Semiconductor Manufacturing Co’s (TSMC, 台積電) US$30 billion capital injection into an overseas subsidiary, VARYING OPINIONS: People with different political affiliations have different views on how bilateral ties with the US, Japan and China would affect Taiwan’s security Two-thirds of Taiwanese view closer US and Japan ties as beneficial to security, a survey by Taiwan’s top military think tank showed.
To gauge the Taiwanese public’s perceptions of how different external relationships affect security, the Institute for National Defense and Security Research commissioned a survey by National Chengchi University’s Election Study Center asking respondents whether closer relations with the US, Japan and China would strengthen or weaken Taiwan’s national security.