Shipping in Middle East Waterways Declines Amid US-Iran Uncertainty
Shipping activity in key Middle Eastern waterways has decreased due to ongoing uncertainty over US-Iran peace talks. According to ship-tracking data from Kpler, only seven commodity vessels passed through the Strait of Hormuz on August 20, down from the previous day's figure.
This represents a significant drop, as typically around one-fifth of global crude oil and liquefied natural gas shipments pass through this strategic waterway. However, none of the seven vessels were Very Large Crude Carriers (VLCC) or Liquefied Natural Gas (LNG) tankers.
Meanwhile, in the Bab el-Mandeb Strait, a total of 23 commodity vessels transited the waterway on Thursday, down from 34 on each of the previous two days. Of those, 16 entered the strait, and seven exited, with two Suezmax crude oil tankers among the departing vessels.