• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia
PoliticsOil

Oil tankers U-turn in Hormuz as U.S.-Iran talks break down

By
Weilun Soon
Weilun Soon
and
Bloomberg
Bloomberg
Down Arrow Button Icon
By
Weilun Soon
Weilun Soon
and
Bloomberg
Bloomberg
Down Arrow Button Icon
April 12, 2026, 11:04 AM ET
A view of the vessels heading towards the Strait of Hormuz following the two-week temporary ceasefire reached between the United States and Iran on the condition that the strait be reopened, seen in Oman on April 8, 2026.
A view of the vessels heading towards the Strait of Hormuz following the two-week temporary ceasefire reached between the United States and Iran on the condition that the strait be reopened, seen in Oman on April 8, 2026.Shady Alassar/Anadolu via Getty Images

Two empty crude tankers attempted to make their way through the Strait of Hormuz and into the Persian Gulf on Sunday, only to make last-minute U-turns just as peace negotiations between the US and Iran broke down, threatening a fragile ceasefire.

Recommended Video

Two very large crude carriers and one Aframax-class vessel — all without direct links to Iran — began to approach the narrow waterway from the Gulf of Oman late on Saturday, ship-tracking data show, arriving near Iran’s Larak island early on Sunday. At that effective checkpoint, Iraq-bound Agios Fanourios I and Pakistan-flagged Shalamar, destined for Das island in the United Arab Emirates, turned back. 

The first VLCC, Mombasa B, sailed ahead and successfully made its way between Larak and Qeshm islands, an Iran-approved route into the Persian Gulf. It is not currently signaling a clear destination.

Meanwhile, the Khairpur, a Pakistani oil product tanker, was transiting through the Iranian corridor toward the Gulf after earlier changing course twice on Sunday. The vessel originally performed a U-turn near Larak and Qeshm islands before executing a second about-face to resume its inbound course.

The specific reasons behind the about-turns are not clear, as both Iraq and Pakistan had earlier received approvals from Iran to transit the strait. But their change of heart came just as negotiators in Islamabad announced they had failed to reach a deal.

The Strait of Hormuz is one of the world’s most important energy thoroughfares and its effective closure since the US and Israel began strikes on Iran six weeks ago has resulted in unprecedented supply disruption. Its reopening has been a crucial point of discussion during weekend negotiations, but remains an area of disagreement.

In recent weeks, several ships have attempted to transit the strait only to abort their efforts, reflecting a constantly changing security situation and persistently high risks. The vast majority have been attempting to leave the Persian Gulf, but empty tankers are also needed inside, to be loaded with new cargoes.

Two Chinese container ships U-turned late last month before finally successfully exiting, while a liquefied natural gas carrier turned back last week.

A successful transit by all three crude tankers on Sunday would have continued a positive uptick in movement through the waterway, controlled by Iran and dominated by Iran-linked vessels since the end of February. On Saturday, two Chinese supertankers and a Greek vessel exited the gulf via Hormuz, laden with crude.

Agios Fanourios I is managed by Eastern Mediterranean Maritime in Greece, while Pakistan National Shipping Corp. owns Shalamar. The two companies did not immediately respond to emailed requests sent outside of working hours.

Mombasa B had recently switched its name from Front Forth. It is now owned by Haut Brion 8 SA that shares the same address as its South Korea-based manager, Sinokor Maritime Co. Sinokor did not respond to a request for comment outside of regular business hours. 

The Fortune 500 Innovation Forum will convene Fortune 500 executives, U.S. policy officials, top founders, and thought leaders to help define what’s next for the American economy, Nov. 16-17 in Detroit. Apply here.
About the Authors
By Weilun Soon
See full bioRight Arrow Button Icon
By Bloomberg
See full bioRight Arrow Button Icon

Latest in Politics

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Politics

Iran juggles oil cuts and storage strain to resist U.S. blockade
EnergyIran
Iran juggles oil cuts and storage strain to resist U.S. blockade
By Anthony Di Paola, Ben Bartenstein, Patrick Sykes, Weilun Soon, Charles Gorrivan and BloombergMay 2, 2026
2 hours ago
Apple raises Mac Mini’s starting price to $799 after AI frenzy drains supply
AIChips
Apple raises Mac Mini’s starting price to $799 after AI frenzy drains supply
By Chris Welch, Mark Gurman and BloombergMay 2, 2026
3 hours ago
Unionized workers form alliance with rich tech giants on AI data centers, pushing back on local opposition and redrawing political lines
AIData centers
Unionized workers form alliance with rich tech giants on AI data centers, pushing back on local opposition and redrawing political lines
By Marc Levy and The Associated PressMay 2, 2026
3 hours ago
Interest on U.S. debt is becoming a top driver of future deficits, as the sheer size of past borrowing overwhelms the fiscal outlook 
EconomyDebt
Interest on U.S. debt is becoming a top driver of future deficits, as the sheer size of past borrowing overwhelms the fiscal outlook 
By Jason MaMay 2, 2026
6 hours ago
trump
PoliticsWhite House
America’s paying more at the pump. Trump’s new Air Force One jet donated by Qatar is nearly ready
By Jonathan J. Cooper and The Associated PressMay 2, 2026
10 hours ago
Trump flouts lower court rulings in unprecedented display of executive power, and ‘respect for the rule of law is likely to break down’
LawDonald Trump
Trump flouts lower court rulings in unprecedented display of executive power, and ‘respect for the rule of law is likely to break down’
By Sudhin Thanawala and The Associated PressMay 2, 2026
10 hours ago

Most Popular

Scott Bessent on financial literacy: 'it drives me crazy' to see young men in blue-collar construction jobs playing the lottery
Personal Finance
Scott Bessent on financial literacy: 'it drives me crazy' to see young men in blue-collar construction jobs playing the lottery
By Fatima Hussein and The Associated PressMay 1, 2026
1 day ago
A Chick-fil-A worker got fired and then showed up behind the register to allegedly refund himself over $80,000 in mac and cheese
Law
A Chick-fil-A worker got fired and then showed up behind the register to allegedly refund himself over $80,000 in mac and cheese
By Catherina GioinoMay 1, 2026
1 day ago
Current price of oil as of May 1, 2026
Personal Finance
Current price of oil as of May 1, 2026
By Joseph HostetlerMay 1, 2026
2 days ago
Gen Z is rebelling against the economy with ‘disillusionomics,’ tackling near 6-figure debt by turning life into a giant list of income streams
Economy
Gen Z is rebelling against the economy with ‘disillusionomics,’ tackling near 6-figure debt by turning life into a giant list of income streams
By Jacqueline MunisMay 2, 2026
10 hours ago
China dominates the world's lithium supply. The U.S. just found 328 years' worth in its own backyard
North America
China dominates the world's lithium supply. The U.S. just found 328 years' worth in its own backyard
By Jake AngeloApril 30, 2026
2 days ago
Apple cofounder Ronald Wayne—whose stake would be worth up to $400 billion had he not sold it in 1976—says that at 91, he has no regrets
Success
Apple cofounder Ronald Wayne—whose stake would be worth up to $400 billion had he not sold it in 1976—says that at 91, he has no regrets
By Preston ForeApril 27, 2026
5 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.