Hormuz Vessel Traffic Plummets Amid Regional Tensions

Vessel traffic through the Strait of Hormuz has plummeted to just four ships on Tuesday, a stark contrast to its 10-day average of 18 vessels. This significant decline comes as attacks in the region intensify, with some attributing it to the escalation of the Iran war.

The latest data shows that two vessels exited the waterway while two entered through the Iranian route. Among these transits, no very large crude carriers or liquefied natural gas tankers were recorded, although one very large gas carrier did exit carrying 470,000 barrels of liquefied petroleum gas.

The Strait of Hormuz handles around one-fifth of the world's oil and liquefied natural gas supply. However, some ships may be sailing through the waterway with their transponders switched off, which could contribute to the underreporting of vessel movements.