Shipping Traffic Through Strait of Hormuz Falls to Lowest Level in More Than Two Months

PUKMEDIA

The Strait of Hormuz.

Shipping data shows that the number of vessels transiting the Strait of Hormuz has fallen to its lowest level in more than two months, following an increase in attacks on oil tankers passing through the strategic waterway last week.

According to data from analytics firm Kpler, only seven cargo vessels passed through the Strait of Hormuz on Tuesday, the lowest number recorded since 23 July.

In a note published on 6 October, Kpler analysts Emmanuel Belostriano and Yui Torikata said crude oil flows through the strait had fallen by 27% from the wartime peak recorded the previous week, reaching 10.1 million barrels per day.

The analysts said the figure was broadly in line with the September average but represented about 74% of pre-war levels.

They attributed much of the decline to ship-to-ship transfers in the Gulf of Oman, where cargoes are transferred between tankers.

At the same time, crude oil exports from ports along the Gulf of Oman and Red Sea coasts increased to 6.7 million barrels per day, more than twice pre-war levels. According to Kpler, the increase helped offset the decline in shipments through the Strait of Hormuz and kept total Middle Eastern crude exports around pre-war levels.

The number of vessels transiting the strait rose slightly to 10 on Wednesday, but remained below the daily total of more than 20 vessels recorded on Sunday and Monday. More vessels entered the strait than exited during the previous two days.

The figures do not include vessels that switched off their Automatic Identification System (AIS) transponders, which are used to track maritime traffic.

Data from the London Stock Exchange Group showed that eight vessels passed through the strait on Tuesday, with four entering and four leaving, down from 14 vessels recorded the previous day.

The vessels included five oil tankers and the liquefied natural gas (LNG) carrier Al-Mafyar, which had loaded cargo at Ras Laffan in Qatar and was scheduled to travel to Port Qasim in Pakistan.

Maritime security sources monitoring incidents said attacks on tankers transiting the Strait of Hormuz reached their highest level last week since the start of the conflict involving Iran, despite increased export activity by Gulf oil-producing countries.

In the latest reported incident, the United Kingdom Maritime Trade Operations (UKMTO) said on Wednesday that projectiles struck a tanker about 51 nautical miles north of the Qatari city of Al Shamal. Injuries were also reported.

Before the conflict began on 28 February, around 125 large commercial vessels, including oil tankers, gas carriers, bulk carriers and container ships, passed through the Strait of Hormuz each day.

The waterway has traditionally carried around one-fifth of global crude oil and liquefied natural gas supplies, making disruptions to shipping through the strait a significant concern for international energy markets.

PUKMEDIA