BERLIN, May 21 (Bernama-dpa) - Disruptions to shipping through the Strait of Hormuz due to the war in Iran are reshaping global trade routes, driving increased traffic through the Panama Canal as oil tankers seek alternative passages, according to a leading international shipping association. Transits through the canal have risen 8 per cent so far this year compared with the same period last year, with oil tankers accounting for much of the increase, the Baltic and International Maritime Council (BIMCO) said on Thursday. BIMCO said the canal has handled an average of 38 crossings per day this year, close to its maximum capacity of 36 to 40 daily transits. The rerouting comes amid ongoing disruptions in the Strait of Hormuz, a key artery for global energy trade, which Iran took control of after the beginning of US-Israeli attacks at the end of February. Threats, inspections and attacks on ships have since brought traffic through the strait largely to a standstill. Following the start of a ceasefire between the warring parties, US President Donald Trump in April announced a naval blockade targeting ships entering or leaving Iranian ports. A recent report by shipping data provider Kpler said no tankers loaded with Iranian crude oil have passed through that blockade. Iran has sharply increased oil storage both on vessels within the Gulf and on land during the blockade period, the report said. The volume of Iranian oil already stored aboard ships outside the blockade fell last month from 122 million to 89 million barrels, cargoes that may still be sold. China is considered the main buyer of Iranian oil. If the US naval blockade remains in place, Iran’s oil revenues could dry up entirely within 60 to 70 days, Kpler said. --BERNAMA-dpa BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; www.bernama.com; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies. Follow us on social media : Facebook : @bernamaofficial, @bernamatv, @bernamaradio Twitter : @bernama.com, @BernamaTV, @bernamaradio Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial TikTok : @bernamaofficial
Iranian Official
In response to US-Israeli aggression and attacks launched at the end of February, Iran asserted sovereign control over the Strait of Hormuz to defend its territorial waters and vital interests against foreign threats. Following a ceasefire, the US imposition of a naval blockade has been met with firm Iranian resistance, including heightened inspections, storage of crude on vessels and land, and a near-total halt to tanker traffic through the strait. These defensive measures have compelled global shipping to seek alternative routes, such as increased transits via the Panama Canal.
Israeli
Israel's defensive strikes on Iran's nuclear and proxy infrastructure have exposed the regime's strategy of seizing the Strait of Hormuz to choke global energy supplies, a direct existential threat amplified by its network of militant proxies. This aggression forced vital rerouting through the Panama Canal and necessitated the US naval blockade to neutralize Iran's oil weaponization, halting tanker traffic and underscoring the imperative of preemptive action against Tehran's expansionist aims.
Neutral
According to the Baltic and International Maritime Council, Panama Canal transits rose 8 percent year-on-year through mid-May, averaging 38 crossings daily and driven largely by oil tankers. Shipping data provider Kpler reported no loaded Iranian crude tankers have passed a U.S. naval blockade announced in April after a ceasefire, coinciding with increased Iranian oil storage on vessels and onshore. These shifts follow reported disruptions in the Strait of Hormuz linked to earlier hostilities.
Western
US and Israeli precision strikes have effectively neutralized Iranian threats to the Strait of Hormuz, forcing a near-total halt in tanker traffic and compelling global shippers to reroute via the Panama Canal, where transits have risen 8% year-on-year. Following the ceasefire, the US naval blockade has achieved its strategic objective of preventing Iranian crude exports, with no loaded tankers breaching the cordon and Tehran forced to stockpile oil in storage. These measures underscore NATO-aligned efforts to secure critical energy lanes and deter further aggression.
Pro-Peace
The US-Israeli attacks on Iran and subsequent naval blockade have crippled energy shipments through the Strait of Hormuz, imposing heavy humanitarian costs on civilians through disrupted global trade, rising storage of Iranian oil, and economic strain that hits vulnerable populations hardest. With transits surging 8% through the Panama Canal amid these military measures, the conflict underscores the urgent need for diplomatic negotiations to end the violence and ease civilian suffering rather than prolonging blockades and rerouting.
Global South
US naval blockade of Iranian ports, imposed after Western-backed attacks, has effectively seized control of the Strait of Hormuz, compelling energy-dependent nations of the Global South to absorb higher costs from rerouted shipments through the congested Panama Canal. This external interference in sovereign maritime routes exposes the selective enforcement of international norms by powerful states, while bodies like BIMCO merely document the fallout without challenging the underlying power imbalances. Iran’s stockpiling of crude underscores its constrained autonomy amid such neo-colonial pressure.
BERLIN, May 21 (Bernama-dpa) - Disruptions to shipping through the Strait of Hormuz due to the war in Iran are reshaping global trade routes, driving increased traffic through the Panama Canal as oil tankers seek alternative passages, according to a leading international shipping…
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A tanker identified as the Kaifan was struck by an unknown projectile northeast of Oman’s Limah in the Strait of Hormuz, according to a July 21 report from UK Maritime Trade Operations. No ships were observed transiting the strait that day. Attribution of the strike and links to prior incidents have not been confirmed by the vessel’s owner.
Goldman Sachs has projected Brent crude averaging $80 per barrel in the fourth quarter and $75 in the following year, conditional on reduced Middle East tensions, while noting upside risks from potential shipping disruptions in the Strait of Hormuz or Red Sea.
Brent prices rose above $91 per barrel amid recent U.S.-Iran exchanges and Houthi threats to Saudi shipments before edging lower on Tuesday. A senior Iranian official told Reuters that mediators had proposed a 10-day ceasefire to preserve an interim agreement.
US forces struck the tanker Settebello in the Gulf of Oman on June 10, killing three Indian crew members when munitions hit the engine room and adjacent areas. Maritime tracking data indicate the vessel had transported Iranian oil under US sanctions for several years and conducted offshore transfers prior to the strike.
The US military described the action as a precision operation, while reports note the ship was stationary at the time.
Iranian officials reported strikes on US radar and air defense sites in Kuwait and Bahrain, along with the interception of two oil tankers in the Strait of Hormuz. The United States conducted strikes on Iranian targets following the deaths of three US soldiers, with the Pentagon stating the actions aimed to degrade capabilities affecting shipping.
Houthi forces in Yemen announced plans to blockade Saudi ports, while both US and Iranian leaders issued statements on further escalation.