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Hormuz shipping traffic dwindles as markets watch Iran-Oman talks

Hormuz shipping traffic dwindles as markets watch Iran-Oman talks

Kpler data showed only 33 vessels transited the strait from Monday to Thursday, while Iraqi crude discounts drew interest from refiners but shipowners stayed away amid security and sanctions concerns.

Fact Check
Multiple independent sources confirm every element of the claim as framed. Anadolu Agency and Reuters (via WTVB) both report the Houthi claim that missiles struck the Saudi tanker Wafaa near Yanbu as part of a maritime blockade campaign against Saudi shipping. Reuters additionally confirms the sharply lower vessel traffic through Hormuz and Bab-el-Mandeb, consistent with the claim's reference to Kpler data. The claim is properly hedged as a Houthi assertion ('Houthis say'), which the sources note remains unconfirmed by Saudi Arabia. The accuracy of the reporting is high.
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Summary

Shipping through the Strait of Hormuz has slowed sharply, with Kpler data showing 33 vessels transited from Monday to Thursday versus 50 a week earlier and just six crude oil tankers exiting so far this week after Iran closed the waterway following the start of the U.S.-Israeli war on February 28. A total of 21 vessels have entered so far, mostly via the Iranian route, and markets are watching talks between Iran and Oman for signs the passage could reopen. Industry sources said a proposed arrangement that would give Tehran control over ships entering the Gulf is difficult to implement because of U.S. sanctions and insurance payment clauses. Four vessels crossed on Thursday, including the very large crude carrier Nissos Kea carrying about 2 million barrels of Basrah crude from Iraq, while several Chinese and Indian refiners sought ships to load at Iraq’s Basrah Oil Terminal after SOMO offered discounts of close to $30 a barrel for August-loading Basrah Heavy and Basrah Medium crude, though no fixtures had been agreed. In the Red Sea, Bab el-Mandeb traffic rose to 26 vessels on Thursday from 19 a day earlier, while LSEG counted 28 using a different methodology. The disruption adds to regional strain after Yemen’s Houthi group said it struck the Saudi tanker Wafaa in the northern Red Sea and separately claimed another missile attack on a Saudi tanker in the Gulf of Aden, claims that Saudi Arabia had not confirmed.

Terms & Concepts
  • Strait of Hormuz: A narrow shipping chokepoint at the mouth of the Gulf through which a large share of seaborne oil exports moves.
  • Bab el-Mandeb: A strategic passage linking the Red Sea to the Gulf of Aden that is important for tanker and cargo traffic.
  • SOMO: Iraq’s state oil marketing company, which sells the country’s crude cargoes.