Hormuz traffic dips to lowest since May after US, Iranian strikes on ships

The Strait of Hormuz, a critical shipping lane, saw a significant decrease in vessel traffic, with only two ships passing through on Saturday and six on Sunday, according to shipping data released on Monday. This is the lowest average daily transit rate since May, with a 10-day moving average of 10 vessels per day, down from over 15 on Friday and nearly 13 on Saturday.

The decline was attributed to the US and Iranian strikes on ships in the region. On Saturday, US forces targeted three Iranian oil tankers, including one off Kharg Island, Iran's main oil export hub. In response, the Iranian Revolutionary Guards Corps (IRGC) navy struck three unauthorized Iranian tankers and three US vessels in other areas.

The attacks marked a major escalation in the maritime conflict, with commercial tankers now being used as instruments of reciprocal economic pressure. Risk assessments are now extreme for Iranian/Iran-linked tonnage and elevated for US-linked or U.S.-escorted shipping in the Strait of Hormuz and the Gulf of Oman. Since July 6, there have been 27 projectile strike incidents, causing damage to vessels in and around the strait.

On Sunday, one very large crude carrier and three bulk carriers loaded with metals, grains, or oilseeds attempted to pass through, but one tanker carrying refined products loaded from a Saudi port was turned back. Since Wednesday, there has been no Very Large Crude Carrier (VLCC) exiting the strait.