Ships shun Strait of Hormuz as renewed fighting strains key oil corridor
Vessel traffic through the Strait of Hormuz has slumped since U.S. President Donald Trump's blockade took effect last week, with shipowners increasingly...
Key points
- Vessel traffic through the Strait of Hormuz has slumped since U.S.
- President Donald Trump's blockade took effect last week, with shipowners increasingly avoiding one of the world's most important energy corridors as fighting between the U.S.
- strikes on Iran, Tehran's declaration of a blanket ban on maritime traffic and fresh attacks on commercial vessels has prompted operators to reassess the risks of entering the Gulf.
- Lloyd's List Intelligence recorded just 53 vessel transits in the week through July 20, down 66% from 157 the previous week.
What happened
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Vessel traffic through the Strait of Hormuz has slumped since U.S. President Donald Trump's blockade took effect last week, with shipowners increasingly avoiding one of the world's most important energy corridors as fighting between the U.S. strikes on Iran, Tehran's declaration of a blanket ban on maritime traffic and fresh attacks on commercial vessels has prompted operators to reassess the risks of entering the Gulf. Lloyd's List Intelligence recorded just 53 vessel transits in the week through July 20, down 66% from 157 the previous week. Daily crossings, which had averaged more than 20 vessels before July 15, fell to 16 that day before dropping to single digits on July 16. Just 40 vessels transited the strait between July 17 and July 19, averaging roughly 13 crossings a day, while weekly traffic through July 19 fell almost 50% from the previous week.