Hormuz Stalled Again: Ship Traffic Takes a Hit

Iran has shut the Strait of Hormuz once more, causing a sharp drop in vessel passage. On Sunday only five ships moved through the narrow waterway, down from 26 the previous day, according to Kpler data. The fleet included three very large crude carriers each carrying about two million barrels of Saudi oil, one bound for Japan. The figures might miss vessels that turn off their GPS tags while sailing the Gulf. Last week Iran lifted its blockade after agreeing to extend a ceasefire with the United States for 60 days. However, the Islamic Revolutionary Guard Corps declared the strait closed again after Israeli attacks in Lebanon. U. S. forces said commercial traffic was still allowed.Saturday’s movement showed a mix of oil transport: three very large crude carriers from the UAE, Kuwait and Iraq, plus three tankers carrying assorted petroleum products. Thirteen ships entered the strait that day, including two large crude carriers. Oil producers Abu Dhabi National Oil Co and Kuwait Petroleum Corp have put out calls for buyers to load crude either inside or outside the Hormuz corridor, offering flexibility amid the tension.