US-linked charter complicates Bangladesh crude shipment through Hormuz
The vessel, Nordic Pollux, loaded the crude in Saudi Arabia but has not departed as it was chartered through the US-based firm Norvic Energy, raising concerns about potential risks for ships with American commercial links in the region.
A tanker carrying 100,000 tonnes of crude oil worth about Tk600 crore for Bangladesh has remained stranded at Saudi Arabia's Ras Tanura port for seven days, unable to begin its voyage through the Strait of Hormuz amid heightened security concerns linked to the ongoing Middle East conflict.
The vessel, Nordic Pollux, loaded the crude in Saudi Arabia but has not departed as it was chartered through the US-based firm Norvic Energy, raising concerns about potential risks for ships with American commercial links in the region.
Another tanker, Omera Galaxy, also chartered through the same company, is facing uncertainty as the shipowner has shown reluctance to send the vessel to Jebel Dhanna port in the United Arab Emirates to load another 100,000 tonnes of crude.
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Even a Bangladeshi-owned vessel MV Banglar Joyjatra has also been unable to pass through the Strait of Hormuz. The vessel had been scheduled to sail from Jebel Ali port in the UAE to Kuwait to load non-fuel cargo.
Authorities in Bangladesh have stepped up efforts to ensure safe passage for the tanker vessels in order to prevent disruptions to the country's fuel supply chain.
The Bangladesh Petroleum Corporation (BPC) typically imports between 100,000 and 200,000 tonnes of crude each month for processing at Eastern Refinery Limited in Chattogram, while the Bangladesh Shipping Corporation transports the cargo from the Middle East.
To move the shipments, the Shipping Corporation charters tankers from Norvic Energy. The most recent crude cargo arrived in the first week of February, and two tankers were expected to deliver crude this month under the existing procurement plan.
Maritime expert Captain Anam Chowdhury, president of the Bangladesh Merchant Marine Officers Association, said Hormuz has become one of the most sensitive routes for vessels linked to US firms.
"Even if Bangladesh secures safe passage through the strait, vessels connected to US firms would still face significant risk," he told The Business Standard.
The narrow waterway linking the Persian Gulf with the Gulf of Oman and the Arabian Sea is one of the world's most critical energy corridors. Nearly a quarter of global oil shipments, along with large volumes of LNG and LPG, pass through the strait.
Nordic Pollux anchored off Saudi coast
Nordic Pollux loaded crude from Ras Tanura but has remained anchored outside the port since 3 March due to security concerns linked to the ongoing conflict.
The Shipping Corporation has written to the BPC and several ministries, requesting urgent diplomatic intervention to ensure the vessel's safe passage.
In the letter, Shipping Corporation MD Commodore Mahmudul Malek said the tanker had been hired to transport 100,000 tonnes of Arabian Light crude under BPC's schedule for 1-2 March.
The vessel arrived at Ras Tanura on 1 March and completed loading on 3 March.
Since 4 March, the tanker has remained at the outer anchorage of the port while awaiting special clearance to cross the Strait of Hormuz before beginning its voyage to Chattogram.
Omera Galaxy may be delayed
The second tanker, Omera Galaxy, was scheduled to load another 100,000 tonnes of Arabian Light crude from Jebel Dhanna in the UAE around 20-21 March.
However, the shipowner has expressed reluctance to send the vessel into the region due to security risks. The chartering company, Norvic Energy, has requested a delay of around 10 days.
Officials are now considering whether the cargo could instead be loaded from Fujairah, a UAE port located outside the Strait of Hormuz. However, berth availability, supply logistics and higher transportation costs remain under review.
Another vessel also delayed
The Shipping Corporation said one of its vessels, MV Banglar Joyjatra, has been unable to travel to Kuwait to load general cargo due to the hazardous situation around the Strait of Hormuz.
In a letter to the Ministry of Foreign Affairs, the corporation said the vessel was scheduled to sail from Jebel Ali port in the UAE to Kuwait on 11 March to load cargo.
However, amid the ongoing conflict, authorities decided to move the ship to a safer location.
Commodore Mahmudul Malek said the vessel was expected to carry cargo from Kuwait to Haman port, but despite securing a charter it is not sailing for now. It has been anchored near the port in a safe zone.
He added that efforts are under way through diplomatic channels to ensure safe passage for the vessel. The Shipping Corporation has informed BPC about the situation, and the matter has also been communicated to the Ministry of Energy and the Ministry of Foreign Affairs.
"Until the security situation improves and shipping through the Strait of Hormuz becomes more predictable, sending ships through the route will remain risky," he said.
Heavy reliance on imported crude
Bangladesh depends heavily on imported fuel to sustain its energy supply system. The country's only refinery, Eastern Refinery Limited in Chattogram, relies entirely on imported crude oil.
According to BPC data, Bangladesh's annual demand for petroleum fuels stands at around 7.2 million tonnes, of which roughly 92% is met through imports.
Around 1.5 million tonnes are imported as crude oil and refined locally at ERL. All crude shipments for the refinery are transported by BSC under charter arrangements with foreign shipping companies.
Once large tankers arrive offshore near Chattogram, the crude is transferred through smaller lighter vessels before being delivered to the refinery at Patenga.
Despite repeated attempts, BPC Chairman Md Rezanur Rahman and ERL Managing Director Mohammad Sharif Hasnat could not be reached for comment.
