Oil tankers with links to Japan appear to be picking up Middle East cargoes directly in the region once again, a tentative but significant return for the first time since the war began in February that speaks to soaring freight and logistics costs. Over more than seven months of conflict in the Persian Gulf, Japan’s risk-averse refiners and shipowners have stayed away from the wider area. Instead, they have relied on distant ship-to-ship transfers off the Indian coast or in Southeast Asia, increasing dependence on sellers and missing out on higher profits but shielding tankers, crews and cargoes.
Any Japanese tankers around the Gulf have instead been leaving, in some cases after being trapped for months. That appears to be changing. Ship-tracking data show the Idemitsu Maru — an Idemitsu Kosan-owned supertanker which had left the Gulf in April — landed in Japan earlier this month with a full cargo of Omani crude, loaded at Mina Al Fahal.
At least two more very large crude carriers controlled by other Japanese companies are expected to reach Al Fujayrah in the coming days to pick up Japan-bound cargoes, shipbrokers say. None of the vessels has crossed into the Persian Gulf, however, and Idemitsu, in response to queries, said its position on dispatching vessels through Hormuz had not changed. Japanese shipowners and refiners are also beginning to lean more heavily on ship-to-ship transfers in Middle Eastern waters.
They began doing so in small amounts in August, and by early October had moved nearly 3.7 million barrels — approaching a tally of 4 million barrels for the whole of September. The change appears “to reflect a selective return rather than a wholesale shift into higher-risk waters, as operators seek to balance safety with transport efficiency,” said Hidenori Watanave at the University of Tokyo Graduate School, who tracks Japanese vessels. Lower costs are likely to be one driver, as direct transits can avoid extra fees and delays, he said.
Leaning more heavily on supertankers operated or owned by Japanese entities will help increase control over transfers at a time when energy security is a top concern for Tokyo. Oil from the Middle East accounted for 93% of Japan’s crude imports of about 823 million barrels in 2025, Kpler data show. Japanese processors were built to run Middle Eastern medium-sour and light crude grades.
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