Hormuz Shipping Traffic Plummets Amid Ongoing Regional Tensions

The Strait of Hormuz has seen a significant drop in shipping traffic since the Iran war began. Before February 28th, about 125 commercial vessels crossed the strait daily, carrying around 20% of global crude oil and liquefied natural gas supplies. However, vessel transits have fallen to seven on Thursday from 11 the previous day, well below the 10-day average of 15.

Of these seven vessels, two Panamax ships exited the strait, one carrying fertiliser and the other sailing in ballast. Five vessels entered the strait, including a Panamax vessel carrying dry bulk cargo, a Handysize vessel laden with steel, a Handysize vessel carrying grains, a medium-range tanker loaded with dirty petroleum products, and a Supramax vessel carrying dry bulk cargo.

The figures exclude any vessels that might have crossed the strait with their Automatic Identification System transponders turned off to avoid detection. Meanwhile, two ballast QatarEnergy-linked vessels appeared inside the Strait of Hormuz this week on September 9th and 6th, respectively.