Strait of Hormuz commodity vessel traffic falls to single digits per day

  • Commodity vessel traffic through the Strait of Hormuz fell to single digits per day.
  • Four vessels exited and 10 entered the Gulf over the weekend.
  • Traffic previously averaged 125 large commercial vessels daily before February 28.

Commodity vessel transits through the Strait of Hormuz fell to single digits per day over the weekend, compared with a 10-day average of 14, according to preliminary shiptracking data. Four vessels exited the Gulf, while 10 entered. The figures exclude ships that may have switched off their Automatic Identification System transponders (ship-tracking transmitters) to avoid detection. The United Kingdom Maritime Trade Operations said a vessel was hit by an unknown projectile while transiting the strait, with the crew’s status, damage and environmental impact still unknown. Separately, Saudi officials said a drone attack from Iraq temporarily shut the East-West oil pipeline, an important alternative route that has helped ease congestion in the strait. Before the Iran war began on February 28, the waterway typically handled about 125 large commercial vessels daily and carried roughly 20% of the world’s daily crude oil and liquefied natural gas supply. Iranian crude exports have been halted since a U.S. blockade of Iran-related shipping was reimposed in mid-July. Traffic through the Bab el-Mandeb strait was higher, with 24 commodity vessels on Saturday and 27 on Sunday, versus a 10-day average of about 27.

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Strait of Hormuz commodity vessel traffic falls to single digits per day - CoinPost Terminal