Traffic Through Strait of Hormuz Continues to Decline as U.S.-Iran Tensions Heighten Market Caution

Deep News07-21 10:40

Shipping data indicates the number of vessels transiting the Strait of Hormuz has decreased further at the start of this week. Market caution has intensified following a new round of reciprocal attacks between the United States and Iran.

According to Kpler data, a total of four commodity-carrying vessels passed through the strait on Monday, primarily navigating along Iranian routes, down from seven vessels the previous day.

Of these four vessels, two tankers were exiting the strait, while the other two were entering. One of the departing vessels was carrying petrochemical products, and the other was in ballast. The two inbound vessels were an asphalt carrier and a tanker, respectively.

No Very Large Crude Carriers (VLCCs) or Cheniere (LNG) carriers were observed transiting the strait on Monday.

Maritime tensions have escalated further. On Monday, the Iran-aligned Houthi group in Yemen stated it would impose a maritime blockade on Saudi Arabia. This action has the potential to disrupt global energy supplies beyond the Gulf region.

The United Kingdom Maritime Trade Operations (UKMTO) office reported receiving multiple accounts of a tanker being struck by an unidentified projectile in the Strait of Hormuz, with the incident communicated via VHF Channel 16.

In a separate incident, Greek shipping company Dynacom Tankers stated that two tankers under its management were attacked by projectiles of unknown origin while sailing off the coast of Oman on Monday.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment