Commodity vessel transits through Strait of Hormuz hit 3-month low

Iran has blacklisted 45 tankers for transgressing rules regarding passage through the Strait of Hormuz, according to the country's official statement. (EPA Images) On Monday, only two commodity vessels passed through this crucial energy bottleneck, marking the lowest daily count since early May. Both vessels entered the Gulf. This number significantly fell short of the 10-day average of 14, with just one large gas carrier and one large crude carrier making their way through the strait from the Gulf of Oman, as reported by shiptracking firm Kpler on Tuesday morning.

The figures might fluctuate, however, as some ships had disabled navigation transponders while transiting. Iran announced the blacklisting of tankers violating its rules on strait passage, warning of repercussions against those engaged in ship-to-ship transfers with them, ramping up pressure on the vital waterway six months into the ongoing Iran conflict.

Prior to the war, the strait facilitated around a fifth of global crude oil and liquefied natural gas flows. Iran also threatened retaliation against intensified US sanctions aimed at severing its economic lifeline, while expressing confidence that major trading partners would resist Washington's campaign. On Monday, the US Treasury Secretary, Scott Bessent, announced these measures but refrained from implementing the most stringent sanctions.

Data from Kpler indicated that 29 vessels transited Bab el-Mandeb, another pivotal chokepoint on the opposite side of the Arabian Peninsula, on Monday, which aligned well with the 10-day average and contrasted with the 28 crossings recorded on Sunday.