Market Chatter: Shipping Traffic Through Strait of Hormuz Picks Up With US Military Guidance

MT Newswires Live05-30

Shipowners are growing positive about transiting the Strait of Hormuz after more vessels passed through the waterway this week with guidance from US military forces, Bloomberg reported Friday.

At least two shipowners said they were in touch with American military forces, which advised them on how best to navigate the waterway, the report added.

According to the report, the US Central Command said its assets are not escorting ships but continue to advise commercial vessels on navigation through the strategically critical waterway, which connects the Persian Gulf to global shipping lanes.

At least one vessel was approached by suspected Iranian fast boats during transit, but helicopters that appeared nearby turned the boats away, allowing the ship to continue, according to a person with knowledge of the journey, the report added.

Ship-tracking data show at least a quarter of non-Iranian vessels stranded in Hormuz since the conflict began have now made their way out, with some crossing with satellite transponders switched off, the report said, suggesting conventional tracking may be understating actual transit volumes.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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