Developments in maritime traffic in the Strait of Hormuz
saw Shipping traffic through the Strait of Hormuz a slight increase last week, approaching the average levels seen amid ongoing tensions and conflicts in the Middle East. According to the latest data from Kpler, a company specializing in tracking maritime traffic, a total of 55 commercial vessels and tankers transited the strategic waterway between May 11 and 17. This represents a notable increase compared to the previous week, which saw only 19 vessels pass through – the lowest number since regional tensions escalated in late February.
The strategic and historical importance of the Strait of Hormuz
Navigation through this strait is of paramount importance both regionally and internationally. Historically, the Strait of Hormuz has been the main artery for the flow of global energy supplies, connecting the Persian Gulf, the Gulf of Oman, and the Arabian Sea. Approximately one-fifth of the world's oil production, roughly 21 million barrels per day, passes through this vital waterway in peacetime, in addition to vast quantities of liquefied natural gas. Any disruption to this waterway is immediately reflected in global energy markets, leading to fluctuations in oil prices and directly impacting inflation rates and the global economy as a whole, thus granting the countries bordering it significant geopolitical leverage.
Transit statistics and cargo details
Official reports indicate that the Iranian Revolutionary Guard has recently allowed a greater number of ships to pass through the strait. Since March 1, the Kpler platform has recorded 663 cargo ships transiting the strait, averaging about 55 ships per week. Liquid tankers, including very large crude carriers (VLCCs), accounted for roughly half of the ships passing through last week, with most destined for major Asian markets such as China, Japan, and Oman.
Furthermore, data showed that 15 dry cargo ships and 16 LNG carriers transited the Strait of Hormuz during the same period. Regarding LNG, only one tanker transited the Strait on May 12, carrying Qatari gas bound for Pakistan, bringing the total number of LNG tankers that have crossed the Strait of Hormuz since the start of the recent tensions to just eight.
Iranian restrictions and economic repercussions
Tehran imposes strict restrictions on traffic in the Strait of Hormuz, disrupting global markets and providing it with a key bargaining chip in disputes. In response, the United States has imposed a blockade on Iranian ports to limit its trade capacity, despite Pakistani-brokered efforts to de-escalate tensions and a ceasefire that went into effect on April 8. Iranian authorities have repeatedly warned that shipping traffic will not return to its previous levels, and Iran's Supreme National Security Council has announced the formation of a new body to manage the strait and impose transit fees on commercial vessels.
The impact of ship nationalities on transit routes
Given these complexities, maritime traffic has become heavily dependent on the nationality of transiting vessels. Tehran has declared that countries adhering to US sanctions will face difficulties passing through the Strait. Consequently, Chinese vessels have been allowed to transit smoothly, with three ships linked to China and two registered in Hong Kong passing through en route to the UAE and Oman. Countries such as China, India, Brazil, Pakistan, Thailand, and Malaysia top the list of major destinations for transiting vessels, while the number of ships bound for Western countries has declined significantly, reflecting a strategic shift in the global maritime trade map, even though some vessels may not disclose their final destination during transit.
