Hormuz shipping traffic falls to 1-week low amid hostilities

Shipping traffic in the Strait of Hormuz reached its lowest daily count since August 5, falling to eight vessels on Tuesday, according to Kpler data. This marked a significant drop from the 10-day average of about 12 vessels. The decline was attributed to vessels avoiding the key waterway due to ongoing hostilities in the Middle East.

The United States and the Houthis, an Iran-aligned group, reported separate attacks. Tehran threatened to keep the strait closed until the United States accepted its conditions. Only one ship, a coal carrier, exited the strait, while the remaining seven vessels continued through it, all opting for the Iranian route. Separately, LSEG data reported 11 transits on Tuesday, a decrease from the previous day's 14.

Historically, about 130 to 140 ships typically navigated the strait before Iran closed it following US-Israeli attacks on February 28. On the other hand, Tuesday's tally of 30 vessels entering the Bab al-Mandab Strait at the southern end of the Red Sea surpassed the 10-day average of 25 vessels.