ChokepointsBrief
Iraq Chartering Multiple Tankers for Hormuz Strait Crude Runs
Baghdad moving to control shuttle operations directly after Basra loadings recovered to 2 million barrels per day in August.
Iraq Moves to Charter Tankers for Direct Hormuz Transit#
Iraq is chartering multiple tankers to transit the Strait of Hormuz as the state oil marketer Somo moves to take control of shuttle runs directly, according to MEES reporting on 28 August 2026. Basra crude loadings reached 2 million barrels per day in August, recovering from below 100,000 b/d during the height of regional conflict disruption. The Iraqi Oil Tanker Company must finalize charters in time to begin September deliveries.
Recovery Built on Trader Discounts, Now Shifting to Direct Sales#
The loading recovery was achieved by selling crude to traders at steep discounts, with trading firms handling Hormuz transits and supplying customers via ship-to-ship transfers in the Gulf of Oman, MEES reported. Somo now aims to improve margins by selling directly to end customers rather than through intermediaries. The shift requires Iraq to secure its own tanker capacity for the strait crossing.
Chartering Timeline Tight for September Start#
Bloomberg confirmed on 4 September 2026 that Iraq is in the process of seeking tankers for Hormuz runs as part of efforts to get crude to global markets. The Iraqi Oil Tanker Company faces a compressed timeline to complete charters and begin operations under the new model within weeks. Basra export volumes are currently running at their highest level since conflict began affecting the corridor.
Loadings Now at Pre-Disruption Pace#
Basra oil loadings in August 2026 reached 2 million barrels per day, matching pre-conflict export rates, according to MEES data. The recovery marks a sharp reversal from the sub-100,000 b/d trough recorded at the peak of disruption. Iraq's move to direct chartering follows months of reliance on trader intermediaries to navigate Hormuz transit risk and arrange onward delivery.
Sources2 sources across 2 domains
- mees.comMEESBasra loadings at 2mn b/d in August, recovery from below 100,000 b/d, Somo selling to traders at discounts, IOTC must finalize charters for September deliveries
- bloomberg.comBloombergIraq in process of hiring multiple tankers for Hormuz transits to get crude to global markets
Each source above carries the claim it supports. Links open the publisher's own page; their text is not reproduced here beyond what the claim requires, and their rights remain theirs.
MENA Trade Monitor is published by Arabian Media Network. Pieces are produced by the Chokepoint Watch with AI-assisted synthesis of the cited sources and automated verification against the network's editorial policy. Every piece carries a desk rather than a reporter. Corrections are recorded on the piece and on the corrections page.
Transits, closures, advisories, war risk premia and rerouting cost for Hormuz, Bab el-Mandeb and Suez. Same day, same shape, always numbers.