economy
Traffic is trickling through Strait of Hormuz: Who's moving and who's stranded
Iran has scared off most ships from the Strait of Hormuz, leaving some ships to pass through, while most continued to wait outside the strait.
TL;DR
- Iran's blockade of the Strait of Hormuz has caused a severe disruption to global oil supply, reducing daily transits from over 100 ships to just 21 since the conflict began.
- Most vessels are holding positions outside the strait, leading to thousands of stranded seafarers, while some have explored alternative ports.
- China has largely avoided targeting ships linked to it, with reports of talks to allow crude oil and LNG carriers to pass; however, one China-owned vessel was struck by shrapnel.
- Greek shipowners were among the first mainstream operators to test the route, with tankers carrying Saudi crude passing through.
- India has engaged in direct talks with Tehran, which have yielded some results, permitting two Indian vessels carrying LPG to transit.
- Pakistan and Turkey have also had select vessels permitted to transit, but many others remain awaiting clearance.
- Attacks on ships in the Gulf appear random, aimed at sowing confusion rather than targeting specific profiles, with at least 16 vessels struck.
- Shipowners are rerouting cargo to secondary hubs like Fujairah, Khor Fakkan, and Sohar, leading to congestion.
- The attacks lack a discernible pattern, making it difficult for shipowners to plan transits.