Hormuz traffic slows as uncertainty over waterway persists Hormuz traffic slows as shipowners avoid Strait amid Iran war uncertainty, with fewer vessel transits and conflicting claims on reopening, impacting global oil and LNG shipments SINGAPORE: Shipping through the Strait of Hormuz slowed, data showed on Wednesday, as most shipowners avoided the key waterway because of a lack of clear signalling on its reopening from a blockade during the Iran war. Six commodity vessels crossed the strait on Tuesday, Kpler data showed by 0258 GMT, down from nine a day earlier and below the 10-day daily average of 11. Inbound traffic included an empty very large crude carrier that followed the Omani side of the strait, as well as two tankers, one of medium-range and the other intermediate, the data showed. Two medium-range fuel tankers and a post-Panamax vessel exited the strait. On Tuesday, U.S. President Donald Trump said no talks were taking place with Iran and insisted the Strait of Hormuz was open, contradicting Iran's assertion that it remained shut to shipping. The waterway handled a fifth of the world's shipments of crude oil and liquefied natural gas before the war. As security concerns curb oil shipments to the world's largest importer, two Chinese shipping giants that used to carry half its imports of Middle Eastern oil before the war have kept their tankers out of the Strait of Hormuz and Bab al-Mandeb since late July, say tanker tracker Vortexa and a ship broker. At the Bab el-Mandeb strait on the Red Sea, where Yemeni Houthis declared a naval blockade on Saudi Arabia on July 20, Kpler data showed 30 weekend transits by commodity vessels, up from 19 in the prior week.
Hormuz traffic slows as uncertainty over waterway persists Hormuz traffic slows as shipowners avoid Strait amid Iran war uncertainty, with fewer vessel transits and conflicting claims on reopening, impacting global oil and LNG shipments SINGAPORE: Shipping through the Strait of H…
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Shipping data indicates a reduction in vessel traffic through the Strait of Hormuz and Bab al-Mandeb amid security concerns, with Chinese shipping firms reportedly halting operations in these waters since late July. While US President Donald Trump stated the strait was open and denied ongoing talks with Iran, Iranian authorities maintain that it remains blocked to shipping.
Iran's top negotiator Mohammad Bagher Ghalibaf said on Tuesday that Strait of Hormuz will not be opened until the US meets Tehran's demands, including lifting a naval blockade. "I want to state clearly that the Strait of Hormuz will not be opened until the American commitments stipulated in the memorandum of understanding...
are implemented," Ghalibaf said in a speech broadcast on state TV. He listed the removal of the blockade, the lifting of oil sanctions and unfreezing of Iran's assets abroad among the demands. 'Tehran, Muscat Pact will help' Qatar, meanwhile,said that an agreement between Iran and Oman would make it easier to resume negotiations to end the war.
"An agreement over the Strait of Hormuz would make it much easier for us to resume the talks between the US and Iran," Qatari foreign ministry spokesman Majed Al Ansari told reporters. (You can now subscribe to our Economic Times WhatsApp channel) He listed the removal of the blockade, the lifting of oil sanctions and unfreezing of Iran's assets abroad among the demands.
'Tehran, Muscat Pact will help' Qatar, meanwhile,said that an agreement between Iran and Oman would make it easier to resume negotiations to end the war. "An agreement over the Strait of Hormuz would make it much easier for us to resume the talks between the US and Iran," Qatari foreign ministry spokesman Majed Al Ansari told reporters.
Bitcoin prices rose in contrast to U.S. stock indices, with the S&P 500 rebounding from its lowest level since August 4. This divergence followed President Trump’s social media assertions that the Strait of Hormuz is fully operational and free of mines, which contradicted earlier reports of a naval blockade and territorial disputes with Iran.
Market data showed WTI crude oil remaining relatively stable, while 30-year U.S. Treasury yields reached 5.34%, a level not seen since January 2007.
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