Strait of Hormuz traffic falls to lowest in over two months after attacks, data shows

The number of vessels passing through the Strait of Hormuz fell to its lowest level in over two months after a surge in attacks on tankers in the crucial waterway, according to shipping data. The lowest figure, seven, was recorded on Tuesday, marking the lowest since July 23, 2021, according to analytics firm Kpler. Kpler analysts Emmanuel Belostrino and Yui Torikata reported that crude oil shipments through the strait dropped by 27% from a wartime peak the previous week to a minimum of 10.1 million barrels a day, which is still 74% of the pre-war level.

Most of the decline was due to ship-to-ship (STS) transfers in the Gulf of Oman, where cargoes are transferred between tankers. However, exports from the Gulf of Oman coast and the Red Sea surged to 6.7 million barrels per day, more than double the pre-war levels, compensating for lost supply from Hormuz and helping maintain overall exports at pre-war levels.

The number of vessels transiting the strait increased to 10 on Wednesday, but was far below the daily average of over 20 on Sunday and Monday. The data excludes vessels crossing with their Automatic Identification System transponders turned off to avoid detection. Reports indicate that attacks on tankers in Hormuz have been the highest in any week since the start of the US-Israeli war with Iran, as Gulf producers ramped up their export efforts.

The latest incident involved a tanker struck by projectiles 51 nautical miles north of Qatar's Madinat ash Shamal, resulting in casualties, according to the United Kingdom Maritime Trade Operations agency. Prior to the February 28 start of the Iran war, around 125 large commercial vessels passed through the strait daily, comprising tankers, gas carriers, bulkers, and container vessels, with their cargoes accounting for a fifth of global crude oil and liquefied natural gas supplies.