Observable disruptions stemming from the Hormuz situation have varied across countries and regions. Middle East loadings declined to approximately 10.33 b/d in May 2026, down from 15.97 b/d in May 2025, according to Wood Mackenzie data, a contraction of nearly 35%. As a result, trade flows have been forced to adjust in unconventional ways, notably affecting Jones Act vessels and their typical trading routes.
The United States expanded its logistical capacity by issuing a waiver of the Jones Act, which normally requires domestic shipments to be carried on US-built, owned, flagged and crewed vessels. The waiver allowed foreign-flag tankers to participate in coastwise trade, effectively integrating global tonnage into domestic distribution. Vessels such as HTM Warrior, SFL Sabine and Weco Senna operated on these routes, while Jones Act vessels including California, Polar Resolution and Washington were redeployed to international markets in Asia. This reflects the emergence of a more flexible system, where vessels shift between domestic and global routes in response to arbitrage opportunities and global constrained fleets.
Activity from Jones Act and waiver-related trades has been closely tracked by VesselTracker analysts. The tanker Washington (IMO: 9642083) transported around 750,000 barrels of crude in April from Valdez crude facility in Alaska to the port of Daesan in South Korea. Followed by a ~800,000 barrel cargo in May from Valdez to Yeosu, South Korea. The tanker has since returned to US waters with indications of further Asia-bound voyages. Similarly, California (IMO: 9642095) lifted another ~800,000 barrels in May from Valdez to Chiba in Japan. This reinforces Valdez as the terminal most consistently supplying crude into export markets within this disrupted framework. These long-haul cargoes significantly exceed the ~300,000-barrel scale typically observed in domestic waiver voyages—such as HTM Warrior (~300k bbl), SFL Sabine (~309k bbl), and Weco Senna (~314k bbl)—highlighting the structural difference between domestic redistribution flows and international export arbitrage.
Wood Mackenzie provides detailed tracking of global tanker movements and trade flows through its waterborne analytics, including daily updates and in-depth reporting for further insight into these evolving market dynamics.
