Ship traffic through Hormuz drops 60% amid renewed fighting, Kpler says
Investing.com -- Ship traffic through the Strait of Hormuz fell sharply over the past week following Iranian attacks on commercial vessels and renewed fighting between Washington and Tehran.
Fourteen ships passed through Hormuz on Sunday, including four crude oil tankers, down about 60% from 37 vessels that crossed on the same day last week, according to data from trade intelligence firm Kpler.
More than 100 ships moved through Hormuz daily before the U.S. and Israel launched the war with Iran on February 28.
The drop in traffic follows a rapid deterioration in security conditions in Hormuz over the past week. Iran has repeatedly attacked commercial ships using a U.S.-protected sea lane along the coast of Oman. Tehran is demanding that all ships use a northern route through its territorial waters.
The U.S. has conducted multiple rounds of strikes on Iran in response to the ship attacks. Tehran responded by firing on U.S. allies in the Gulf.
Ships are increasingly using the Iranian route following the vessel attacks, according to Kpler.
Kpler noted that traffic through the Omani route had nearly disappeared over the weekend. More than 9.2 million barrels of Iranian crude have passed through Hormuz since Trump declared the ceasefire with Tehran over on July 8, said Matt Smith, director of commodity research at Kpler.
U.S. Central Command said Hormuz remains open and traffic continues to flow through the strait. Some ships transit the southern route with their transponders turned off, making it difficult to determine exactly how many vessels are using the corridor.
President Donald Trump said Monday that he would reimpose the U.S. naval blockade against Iran. Trump also demanded that ships pay the U.S. 20% of the value of their cargo as reimbursement for protection.
