The release of the Grace 1 is fueling hope the UK-flagged Stena Impero will soon be freed.
The 50,000-dwt Stena Impero (built 2018) was seized 19 July by Iran, in suspected retaliation for the UK arresting the 300,000-dwt Grace 1 (built 1997) in Gibraltar 4 July.
The Grace 1 was freed by a Gibraltar court Thursday.
"Our concerns and priority remains with the welfare of our valued seafarers on board the Stena Impero and the release of the crew of the ship," Stena Bulk chief executive Erik Hanell said in a statement.
"Any event which contributes in any way to this objective must be viewed as positive."
According to local media reports, the Grace 1 was seized on suspicion it was carrying 2.1 million barrels of crude oil to Syria, in violation of international sanctions. But Gibraltar was given written assurances the oil would not end up in the war-torn country, which the British overseas territory determined was enough to let the VLCC go.
The Stena Impero was seized near the Strait of Hormuz, accused of "violating international regulations."
The ship has been held in Bandar Abbas since, with 23 crew members aboard.
Owner Stena Bulk has lobbied the Iranian government to be allowed aboard to check on the ship and crew, but have not been allowed.
The company has since reached out to officials in the seafarers home countries of India, Russia, Latvia and the Philippines, including to Indian Prime Minister Narendra Modi, to help secure their release.
Stena Bulk has said the seafarers are in "good health", but that uncertainty about their ability to leave is a source of worry.
