Significant Decline in Strait of Hormuz Ship Traffic to 12 Vessels Amid Regional Tensions

Shipping data released Monday revealed only 12 commercial vessels transited the Strait of Hormuz at the start of the week, marking a sharp drop compared to 35 ships during the same period last week. This decline occurs amidst ongoing tensions in the Gulf region and the unresolved crisis between the United States and Iran. Visible navigation traffic through the Strait, a vital artery for approximately one-fifth of global oil and liquefied natural gas supplies prior to the escalating crisis, has fallen to extremely low levels. Nevertheless, producers in the Middle East continue oil exports via tankers that often transit the Strait with their transponders switched off, limiting their traceability. Preliminary data from Kepler analytics indicated that four traceable vessels exited the Strait on Sunday, including two refined petroleum product tankers and two empty bulk carriers/gas vessels. Conversely, two small oil tankers entered the Gulf waters. On Saturday, five vessels departed the Gulf loaded with agricultural products, liquefied petroleum gas, and fertilizers, while a large empty gas tanker entered. It is noted that prior to the outbreak of the American-Israeli war with Iran on February 28, the Strait of Hormuz saw approximately 125 large commercial vessels transiting daily, encompassing oil and gas tankers, bulk carriers, and container ships.