Industry, Logistics & Shipping

Qatar announces full return of maritime navigation

DOHA
Qatar announces full return of maritime navigation

Qatar's Ministry of Transport (MoT) has announced the full return of maritime navigation for all types of maritime vessels and ships, as of Sunday (April 12) from 6am to 6pm, reported the state news agency QNA.

The ministry said sailing is allowed all day long for maritime vessels licensed for fishing activity, as per its previous announcement.

Qatar, home to the world’s largest liquefied natural gas (LNG) export facilities, has seen its maritime exports paralyzed for over a month following an Iranian attack on its infrastructure and the subsequent "de facto" closure of the Strait of Hormuz.

Though a welcome gesture, market participants view the resumption of navigation as a "controlled opening" intended to test the durability of the current two-week ceasefire. 

The daylight-only restriction suggests that security concerns remain acute, but the move follows recent reports of three oil supertankers successfully transiting the Strait, a feat that has lowered the immediate "war premium" on regional shipping insurance, reported Investing.com

If Qatari LNG tankers begin to move through the corridor toward Asian and European hubs, it would mark the most significant easing of global energy supply constraints since the war began, it added.