Hormuz Strait Traffic Plummets Amid Ongoing US-Iran Tensions

The Strait of Hormuz, a critical waterway for global oil shipments, has seen a significant decline in vessel traffic amid ongoing tensions between the US and Iran. According to shipping data from Kpler, only 17 commodity vessels transited the strait over the weekend, down from 37 a week earlier. This is a stark contrast to the typical 125 large commercial vessels that pass through the strait daily.

The reduced traffic has been attributed to the ongoing conflict in the region, with both sides involved in stalemate. Meanwhile, Middle Eastern producers continue to export oil on tankers traveling with their transponders off. For example, five vessels exited the strait on Sunday, including the very large crude carrier Pinios, which was transferring 2 million barrels of Iraqi Basrah crude oil.

The Shandong Redwood LNG tanker, carrying a cargo from Qatar's Ras Laffan port, also exited the Hormuz strait on September 19 and is heading to Pakistan. Saudi Arabia has increased its exports through the Strait of Hormuz this month and next, prompted by attacks on its East-West pipeline. A total of 22 tankers, mostly VLCCs, carrying 42 million barrels of crude, exited the Hormuz strait in the week of September 13.