Strait of Hormuz Shipping Traffic Plummets Amid US-Iran Tensions

According to the International Desk of Webangah News Agency, …

Shipping traffic in the Strait of Hormuz has seen a sharp decline compared to levels recorded after the ceasefire last June, attributed to alleged US incursions into Iran and subsequent Iranian retaliatory attacks on American positions and explosions involving several vessels in the strategic waterway. The New York Times reported that the reluctance of shipping companies to transit the strait could lead to another substantial slowdown in the flow of oil and gas from the Persian Gulf region.

Harry Favos, CEO of Athens-based Stealthgas, stated that his company has postponed the passage of another of its vessels through the Strait of Hormuz due to the escalating US-Iran attacks. He commented, “The situation in the strait is getting worse by the minute.”

U.S. Central Command (CENTCOM) spokesperson Gen. Tim Hawkins claimed that Washington has assisted over 800 commercial vessels and the transfer of 380 million barrels of crude oil through the Strait of Hormuz since early May. However, the New York Times suggests that high global energy prices contradict these assertions. The newspaper noted that many vessels passing through the strait with U.S. assistance switch off their GPS tracking devices, making independent verification of U.S.-provided statistics difficult.

The New York Times concluded by emphasizing that the oil market’s survival hinges on the restoration of the Strait of Hormuz as a reliable route for maritime energy trade.