The UAE somehow quickly restored oil exports: the reason became known

The UAE increased oil exports to pre-war levels and did it unexpectedly quickly. It turned out that not only the oil pipeline bypassing the Strait of Hormuz played a role. The transfer of oil through the Strait of Hormuz in a secret mode began a few weeks after the start of the Iranian war. The Korean tanker tycoon was in business.

"The UAE began to secretly export its oil from The Strait of Hormuz just a few weeks after the start of the war, using tactics such as "unauthorized" movement without transponders and transshipment of cargo to other tankers," writes Bloomberg.

According to him, the Sinokor group, headed by the Korean shipping magnate Ga-hyun Chon, transported oil from By June, almost half of the Emirati oil supplies were carried out on ships controlled by Sinokor.

"Sinokor's deals with the Abu Dhabi National Oil Company have created huge profit opportunities for the company: according to estimates by ship brokers, only three supertankers making shuttle flights could bring Sinokor from 60 to 120 million dollars," the agency writes.

The UAE has adopted the tactics of sanctioned tankers, which turn off transponders and can only be noticed physically.

"However, what is extremely important, the Abu Dhabi authorities needed a sufficient number of vessels to carry out risky transit - not once, but again and again. And for this, they turned to Ga-hyun jong for help," the agency continues.

They noted that the deal with Sinokor played a key role in helping the UAE to increase exports through the Strait of Hormuz much faster than their neighbors in the Persian Gulf.

"Sinokor's actions during the war with Iran are groundbreaking," said Matt Wright, chief freight analyst at Kpler, "By creating conditions, they raise the stakes for all shipowners. They are also ready to work in those market segments where other shipowners can still exercise caution, and we are seeing the first signs of market recovery thanks to this."

On average, Sinokor supertankers were transported from UAE ports to At least 680 thousand barrels of oil per day in the Persian Gulf — one supertanker in two or three days. In June, these figures rose to 1.4 million barrels.

"At least ten Sinokor tankers made shuttle flights from UAE oil terminals to The Persian Gulf, followed by unloading in the Gulf of Oman," Bloomberg added.