Two fully laden Chinese oil tankers in the Persian Gulf are approaching the Strait of Hormuz, potentially putting them on track to become the first such vessels to cross under a day-old US-Iran ceasefire, even as shipowners scrutinise the status of the narrow waterway.

The Cospearl Lake, linked to China’s state-owned Cosco Shipping, and He Rong Hai, owned by a smaller entity, appeared to be travelling east in the Persian Gulf at near top speeds early on the morning of April 9, ship-tracking data show. Both are signalling Chinese ownership on their tracking systems, a move typically done for safety ahead of Iran-approved transits.

A successful crossing is not yet guaranteed, as several vessels have turned back at the last moment and there has been little change in traffic over the past day. Should the two cross – on their current trajectories, that could be later on April 9 – they would be the first large, non-Iranian tankers to make it through since the truce was announced. 

Iran and the US agreed to a pause in fighting in exchange for the opening of the Strait, but a lack of clarity on what was agreed and continued fighting – including Israeli strikes in Lebanon – have raised questions about the ceasefire.

US President Donald Trump on April 7 said the Strait would be open. Iran, by contrast, has said its armed forces will control traffic and has sent broadcasts informing ships the Strait remains closed. It has also designated safe routes for vessels entering and exiting the Strait.

The Chinese ships – should they succeed – would be notable for their cargoes. One is carrying Iraqi crude, and the other, Saudi. While Iran has referred to “brotherly” Iraq, most other transits have been granted to friendly nations.

Cospearl Lake’s passage would also mark the first such attempt by a Cosco oil tanker in the six-week war. Cosco, like other large shipping firms, tends to be conservative, and its crude carriers have been trapped since US and Israeli strikes on Iran began, prompting Iran to all but close Hormuz in retaliation.

The two very-large crude...