Hormuz Traffic Sinks to Six Vessels Monday as Iran Talks Stall Again
Vessel traffic at the Strait of Hormuz continues to decline as last week’s hopes of negotiations of a U.S.-Iran deal began to fade, yet again. On Monday, only six commodity vessels transited the Strait of Hormuz in either direction, down from 11 ships in the latest 10-day average, according to shipping data from Kpler cited by Reuters on Tuesday. Four commodity vessels moved inbound into the…
The Strait of Hormuz witnessed a significant drop in vessel traffic, with only six commodity ships passing through on Monday, according to shipping data cited by Reuters. This decline marks the lowest point in more than two months, as security concerns continue to escalate amidst ongoing tensions between Iran and the United States.
The previous week's hopes for a U.S.-Iran deal seemed to fade, further contributing to the decline in traffic. In the Persian Gulf, four inbound and two outbound commodity vessels were recorded, including two empty product tankers, an LNG carrier, and a tanker carrying residual fuel. Bab el-Mandeb, the Red Sea-Prophet Gulf chokepoint, saw no change in traffic, with an average of about 24 vessels transiting the area.
The situation remains tense, with Iran seeking to control vessel traffic through the Strait of Hormuz and the Iran-aligned Houthis threatening shipments in the Red Sea and Bab el-Mandeb Strait. To stabilize energy markets, Bank of America predicts that traffic at Hormuz must rebound to around 80 to 100 ships per day, but currently, only 5 to 10 ships per day are passing through.
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