Significant Decline in Shipping Through the Strait of Hormuz Amid Rising Tensions

Dramatic Drop in Shipping Activity

Amid escalating tensions in Western Asia, shipping traffic through the Strait of Hormuz has plummeted dramatically. Following attacks by the United States and Israel on Iran, Tehran's retaliatory actions have led to a reported decrease of over 90% in vessel movements since February 28. The UK Maritime Trade Operations, a monitoring body led by the Royal Navy, documented more than 40 incidents between March 1 and April 27. These incidents include attacks on commercial vessels, damage to ships, harassment, and near-miss situations.

Damage to Vessels Passing Through the Strait

In a statement released on Friday, the monitoring team indicated that vessels and their crews have either suffered direct harm or faced indirect repercussions. Additionally, many ships were harassed or compelled to turn back. Notably, at least 26 of these incidents involved direct attacks on commercial vessels. The attacks by the US and Israel commenced on February 28, resulting in the death of Iran's Supreme Leader, Ali Khamenei. In retaliation, Iran initiated strikes against Israel and targeted US bases in Gulf countries.

Dramatic Reduction in Vessel Traffic

Furthermore, Iran has also closed the Strait of Hormuz under its control. This strait is crucial as it accounts for nearly 30% of the global supply of crude oil and gas. Previously, around 130 large vessels passed through daily, but this number has now dwindled to fewer than 10. The closure of the Strait of Hormuz, one of the world's most vital maritime routes, has nearly halted the movement of oil and gas. Officials from UK Maritime Trade Operations reported that between 850 and 870 large cargo ships are now trapped within the Gulf, unable to safely navigate the narrow waterways due to security risks.