As US-Iran war rages, who’s risking the Strait of Hormuz?
The Strait of Hormuz has become one of the world’s most dangerous waterways since March, when Iran began attacking shipping vessels as a pressure tactic in its ceasefire talks with the United States. Still, though a significant proportion of the global oil trade bottlenecks at the strait, shipping traffic never completely halted. With the United ...
Since March, Iran has been attacking shipping vessels in the Strait of Hormuz as a pressure tactic during ceasefire talks with the United States. Despite the danger, many ships continue to transit the strait, which is crucial for global oil trade. According to Joint Maritime Information Center (JMIC), a US-led maritime force, commercial traffic through the strait remains at reduced levels, with vessels using both the southern Omani and northern Iranian-controlled routes.
DW's analysis of data from Global Fishing Watch, which monitors all vessels via satellite imagery, shows at least 84 ships passed through the Strait of Hormuz during the conflict, from February 28 to April 7. This includes 34 ships moving east to west into the Persian Gulf and 50 ships moving out of the gulf. The majority of these ships are registered under different flags than their actual country of origin or ownership.
Despite the risks, ships continue to transit the Strait of Hormuz due to the financial incentive – producers of oil and other goods can earn 90% or more of their normal revenue by risking the transit, given the current oil price of over $80 per barrel.
Written by urgent.news from Hellenic Shipping News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
