Hormuz Transits Drop to Single Digits Amid Security Threats
Vessel traffic in the Strait of Hormuz fell to single-digit levels over the weekend, significantly below the recent average. A drone attack on Saudi infrastructure and a projectile strike on a ship highlight the rising risks for global energy routes.
Commodity vessel transits through the Strait of Hormuz fell to a single digit per day over the weekend. This volume sits well below the 10-day average of 14 vessels per day. Preliminary ship tracking data released on Monday confirms the sharp decline in traffic.
Four vessels exited the Gulf through the strait during the period. These included a Handysize vessel in ballast and a Handy vessel carrying LPG. Two larger ships also passed, a Supramax with fertilizer and a Suezmax laden with crude or condensate. Ten vessels entered the Gulf, carrying cargo such as grain, metals, and dry bulk commodities.
Security Incidents Disrupt Regional Shipping
The United Kingdom Maritime Trade Operations reported a vessel was struck by an unknown projectile. The incident occurred while the ship was transiting the strait early Sunday. Details regarding crew status, damage, and environmental impact remain unknown.
Saudi officials confirmed a drone attack from Iraq temporarily shut down the East-West oil pipeline. This pipeline has served as a critical bypass for oil moving from the Gulf. The disruption adds further pressure to an already constrained supply chain.
Trade Volumes Far Below Pre-War Levels
Before the conflict began on February 28, the strait typically handled about 125 large commercial vessels per day. This volume accounted for roughly 20% of the world's daily crude oil and liquefied natural gas supply. Current figures indicate a massive contraction in regular trade activity.
A U.S. blockade of Iran-related shipping has halted Iranian crude oil exports since mid-July. While the Bab el-Mandeb strait saw 24 to 27 vessels per day, Hormuz traffic remains erratic. Data excludes vessels with Automatic Identification System transponders turned off, suggesting actual numbers may differ from reported figures.
Market Data Highlights Persistent Risk Premium
The drop in transits reflects heightened caution among shipping operators. Insurers and freight forwarders are adjusting rates to account for the elevated threat level. The data cited by GN markets/commodities (en-US) underscores the ongoing volatility in key energy corridors.
