Shipping through the Strait of Hormuz has slowed dramatically following attacks on tankers, with no vessels registered for transit on Sunday. This comes as US-Iran talks to resolve the Middle East conflict have stalled.
Tanker Attacks Bring Strait to a Standstill
Data from Kpler, a ship tracking company, showed that five commodity vessels transited the strait on Saturday, but none on Sunday. This is a significant drop from the 31 vessels that passed through the strait in the prior weekend. Shipping through the strait has been severely impacted, with the United States saying it can maintain a naval blockade of Iran indefinitely.
Conditions for Resumption
Washington must meet Iran's conditions regarding the strait in order for shipping to resume, according to Foreign Minister Abbas Araqchi. In an interview with local media on Saturday, Araqchi emphasized that Iran's conditions must be met before shipping can resume. The strait is a critical waterway, handling a fifth of the world's shipments of crude oil and liquefied natural gas before the war.
Ships Passing Through Undetected
Some ships may pass through the strait undetected, with their transponders switched off. However, the figures are far from the more than 130 ships a day that traversed the Strait of Hormuz before the war launched by the US and Israel on Iran in February. The United Arab Emirates said three vessels operated by the Abu Dhabi National Oil Company were attacked in transit last week, which has further impacted shipping.
Other Impacted Shipping Routes
The Bab el-Mandeb strait, where Yemeni Houthis declared a naval blockade on Saudi Arabia on July 20, has also been impacted. Kpler data showed 49 weekend transits by commodity vessels, down from 55 in the prior week. There were no tracked Saudi oil shipments, further highlighting the disruption to global shipping.
Global Implications
The Strait of Hormuz is a critical global shipping route, and its closure or significant disruption has significant implications for the global economy. The impact of the attacks on tankers and the subsequent slowdown of shipping through the strait will be felt for weeks to come. The international community is watching the situation closely, as it has the potential to disrupt global oil supplies and drive up prices.
Source: Joy Online
