Strait of Hormuz Ship Traffic Plummets to Two-Month Low Amid Tanker Attacks
Vessel traffic through the Strait of Hormuz dropped to a two-month low following a surge in attacks on oil tankers, prompting producers to shift exports to alternative routes.
The number of vessels crossing the Strait of Hormuz has dropped to its lowest level in over two months following a surge in attacks on oil tankers in the strategic waterway. According to data from shipping analytics firm Kpler, only 7 cargo ships passed through the strait on Tuesday, marking the lowest daily figure recorded in the region since July 23. A slight recovery was registered on Wednesday, with the number of vessels rising to 10.
Furthermore, the past two days have seen a trend of more vessels entering the strait than exiting it. It should be noted that the data does not include vessels crossing the strait with their automatic identification transponders turned off to evade detection.
Crude Oil Transit Volumes Plunge
In a review published on October 6, Kpler noted that crude oil transit volume through the strait plummeted by 27% compared to the peak seen during the previous week of hostilities, totaling at least 10.1 million barrels per day. This brings the traffic volume back to the September average, but represents only 74% of pre-war activity levels. According to the analysis, most of the decline was recorded in ship-to-ship cargo transfers in the Gulf of Oman.
Despite the plunge in transit through the strait, Persian Gulf oil producers ramped up export efforts via alternative routes. Exports from the coasts of the Gulf of Oman and the Red Sea surged to 6.7 million barrels per day—more than double pre-war levels. This spike compensated for the supply shortage from Hormuz and helped maintain overall crude oil exports from the Middle East at their original level.
Maritime security sources monitoring incidents in the region reported that attacks on tankers sailing through the strait reached a weekly peak last week since the beginning of the hostilities.
Maritime Security and Global Impact
In the latest incident reported on Wednesday by the United Kingdom Maritime Trade Operations (UKMTO), projectiles struck a tanker near Qatar, with casualties reported in the attack.
For comparison, prior to the outbreak of the conflict with Iran on February 28, approximately 125 large commercial vessels crossed the Strait of Hormuz daily, including oil tankers, gas carriers, bulk carriers, and container ships. Their cargoes accounted for one-fifth of the global market's supply of crude oil and liquefied natural gas.
