Hormuz traffic dwindles after Middle East attacks intensify

The Strait of Hormuz experienced a decline in shipping traffic at the beginning of the week due to heightened attacks in the Middle East, according to shipping data. Kpler reported that only four commercial vessels passed through the strait on Monday, a significant decrease from 10 vessels the day before. The transits included two dry bulk carriers, two oil tankers, all in ballast mode. The data, however, does not account for vessels with Automatic Identification System transponders turned off to evade detection.

Iranian news outlet Fars reported on Monday that an oil tanker had exploded and caught fire after colliding with mines in the strait. The incident's timing was not specified. Concurrently, Gulf Arab states cancelled scheduled talks with Iran to negotiate potential agreements regarding the Hormuz strait, complicating diplomatic efforts to resolve the conflict and its implications for global oil supplies.

On the same Monday, Yemen's Houthi rebels claimed to have launched dozens of missiles and drones at a military base in Khamis Mushait, southern Saudi Arabia. The targets included aircraft hangars, radar systems, runways, and ammunition depots, in response to Saudi airstrikes in Yemen. In the Bab el-Mandeb strait, 21 commercial vessels transited on Monday, a drop from 28 vessels the previous day.

Prior to Iran's involvement in the conflict on February 28, the Strait of Hormuz typically accommodated around 125 large commercial vessels daily, contributing to approximately 20% of the world's daily crude oil and liquefied natural gas supply.