economy
Strait of Hormuz Still Seeing Significantly Lower Traffic Despite Iran War Ceasefire
Only about a dozen ships passed through the Strait of Hormuz in the first two days of the ceasefire agreement between the United States and Iran, far below the normal traffic level before the war, marine transit data shows.
TL;DR
- Only about a dozen ships passed through the Strait of Hormuz in the first two days of the ceasefire agreement.
- Traffic levels are significantly below normal pre-war levels.
- Iran initially reported a traffic suspension, which the White House disputed.
- A "legitimate misunderstanding" of the ceasefire terms was cited by the Vice President.
- The Strait of Hormuz is crucial for approximately 20% of the world's oil supply.
- On average, 129 vessels passed through the strait daily before the war.
- Only three oil or chemical tankers passed through since the ceasefire began, all previously involved in shipping Iranian oil.
- The daily average in March was six ships, increasing to 10 ships per day as of Thursday.