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Shipping traffic at Strait of Hormuz stays below recent averages
Only five commodity vessels crossed Tuesday, versus a 10 day average of 15 ships, as Oman and Iran discuss a temporary corridor.
OilPrice reports that vessel traffic through the Strait of Hormuz remains well below recent averages as Iran and Oman discuss options for a temporary shipping corridor in the chokepoint.
According to ship tracking data cited by the outlet, only five commodity vessels moved in either direction on Tuesday, about the same as Monday but below the 10 day average of 15 ships, as of early Wednesday. The reported movement included two LPG laden tankers and one bitumen laden vessel outbound, and two empty product tankers inbound from the Gulf of Oman into the Persian Gulf.
The outlet also points to a gradual decline since August 22, when crossings had reached as many as 20 inbound, 14 outbound, and at least three transits in dark mode, based on data from Windward. It says traffic has fallen to as few as 4 inbound, zero outbound, and 3 dark crossings as of Monday.
OilPrice adds that about 65% of oil exports from the Strait of Hormuz have China as their destination, according to Windward. The subdued traffic is tied to talks between Oman and Iran on establishing a temporary navigational corridor, discussed at the foreign affairs minister level.