Abu dhabi: The head of Abu Dhabi National Oil Company (ADNOC) said Thursday that the Strait of Hormuz remains effectively closed despite a ceasefire, with Iranian restrictions still blocking normal energy exports and around 230 loaded oil vessels waiting to sail.

According to Anadolu Agency, ADNOC CEO Sultan Al Jaber stated in a LinkedIn post that access to the waterway was being restricted and conditioned. He emphasized that ‘conditional passage is not passage’ and insisted that the strait must be reopened ‘fully, unconditionally and without restriction.’

Al Jaber reported that approximately 230 vessels loaded with oil are ready to set sail and that ADNOC has already managed to load cargoes. He further mentioned that the company plans to expand production within the constraints imposed by war-related damage to its infrastructure and the necessity to maintain staff safety.

He highlighted that “markets remain at a critical crossroads,” noting that the last cargoes that passed through the Strait of Hormuz before the conflict began are now reaching their destinations. This situation, he explained, is where the paper-traded markets are confronting physical reality, revealing a 40-day gap in global energy flows.

His comments came as Iran announced new alternative entry and exit routes for ships traversing the strait, with the intention of minimizing collision risks with potential sea mines in the main shipping zone. Iranian media and officials have advised vessels to use designated corridors for maritime safety.

However, shipping firms have maintained a cautious stance despite the US-Iran ceasefire announced earlier this week. Before the conflict, the Strait of Hormuz was responsible for handling about one-fifth of global oil and LNG shipments, posing a significant risk for energy markets, especially in Asia, which Al Jaber noted receives most cargoes transported through the corridor.