Shipping traffic via Strait of Hormuz stays lower than 10-day average

Preliminary shipping data indicates that the number of commodity vessels transiting the Strait of Hormuz dropped below the 10-day moving average on Thursday, with only ten vessels passing through, compared to seven the day before. This marked a decline from the typical daily average of about 17 vessels during this period, as reported by AFP.

The nine vessels that entered the strait comprised Supramax ships carrying metals, grain, and other dry bulk cargoes, along with an empty very large gas carrier, while one Supramax carrying fertilizer exited. These figures exclude any vessels with transponders turned off to avoid detection. Prior to the US-Israeli conflict with Iran, which began on February 28, the Strait of Hormuz usually accommodated around 125 large commercial vessels daily, constituting about 20% of the world's daily crude oil and liquefied natural gas supply.

Iran and the US continue to differ on the terms for ending the war, though a senior Iranian official expressed openness to continuing diplomatic efforts, citing Tehran's review of Washington's response to Iran's peace proposals. The official also mentioned the priority of lifting the US naval blockade on Iranian ports and reopening the Strait of Hormuz.

In the nearby Bab el-Mandeb Strait, 27 commodity vessels transited on Wednesday, up from 24 the previous day, with this number comparable to the 10-day average of 26 vessels.