Summary
- It reported that transit volumes through the Strait of Hormuz have sharply declined following geopolitical conflict in the Middle East.
- According to Kpler data, the number of merchant ships passing through the Strait of Hormuz since March has fallen by about 95% compared with pre-conflict levels.
- It said that of the merchant ships transiting the strait, 91 were vessels carrying crude oil and natural gas, and most were found to have moved eastward after exiting the strait.
Forecast Trend Report by Period
Transit volumes through the Strait of Hormuz— a key global energy shipping route—have sharply declined in the wake of geopolitical conflict in the Middle East.
According to Odaily, a media outlet specializing in virtual assets (cryptocurrencies), the number of vessels passing through the Strait of Hormuz has fallen significantly since the conflict between the U.S. and Israel and Iran. Data from market intelligence firm Kpler showed that "the number of merchant ships transiting the strait since March has fallen by about 95% compared with pre-conflict levels."
Specifically, from the 1st to the 23rd, only 144 merchant ships in total transited the strait. That marks a roughly 95% decline versus before the conflict on the 28th of last month.
Of these, 91 were ships carrying crude oil and natural gas, and most were found to have moved eastward after exiting the strait. Signs also suggest transit routes were operated only on a limited basis.
The Joint Maritime Information Center, a multinational maritime monitoring body, said that "before the conflict, about 138 ships on average passed through the strait per day." It added that "vessels that transited on the 23rd appear to have used the northern route."
Meanwhile, the route is reported to run through a section north of Iran's Larak Island, and to be operated with the approval of the Iranian government.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
