Fewer Ships Pass Through Strait of Hormuz After Recent Incident
LONDON: On Friday, there were fewer ships transiting the Strait of Hormuz compared to earlier in the week. This change came shortly after a Taiwanese-operated vessel was reportedly fired upon by Iran, according to ship tracking data.
In response to the attack, which damaged the ship near Oman, the U.N. shipping agency temporarily halted its voluntary effort to evacuate hundreds of stranded vessels and thousands of crew members from the Gulf.
Despite the incident, at least four tankers, including three very large crude carriers capable of carrying up to 2 million barrels of oil, did enter the Gulf on Friday to load oil. Additionally, two supertankers also entered the strait to take on Iranian oil, while another tanker left the strait with 2 million barrels of oil, heading through the Omani side.
After months of disruptions caused by the ongoing conflict with Iran, oil buyers are eager to build their stockpiles, especially following a ceasefire agreement between the U.S. and Iran.
Crude oil prices fell by over 3% on Friday, contributing to significant weekly losses, as concerns over supply began to ease. Saudi Arabia, the top oil exporter, has also resumed loadings in the Gulf, enhancing overall supply.
Before tensions escalated, an average of about 125 ships sailed through the strait daily.
Taiwan’s Evergreen Marine confirmed that their ship was struck by an “unknown object” close to Oman, following reports from U.S. officials that indicated Iran was responsible for the attack.
Jakob Larsen, the chief safety and security officer at shipping association BIMCO, commented that this attack is a setback for plans to resume normal shipping through the Strait of Hormuz. He emphasized the need for clear agreements between the U.S. and Iran to ensure safe maritime traffic.
Iran’s deputy foreign minister, Kazem Gharibabadi, stated that safe passage through the strait can only be guaranteed with cooperation from Tehran.
On the shipping front, tanker traffic included oil and chemical carriers, totaling 13 transits in both directions on Friday, down from 24 on Thursday and 27 on Wednesday. This marked the highest traffic since the conflict escalated following U.S.-Israeli strikes on Iran on February 28.
Overall shipping traffic, which includes different types of vessels, reached 62 transits on June 24, the highest single-day total recorded since the situation intensified, although this represents only 53% of the activity seen on the same day last year.
Analysts noted that while there have been improvements, traffic levels have yet to return to normal.
