The Strait of Hormuz has been in the spotlight with a vessel being struck on Saturday, leading to a slowdown in traffic through the waterway.
According to data from the maritime tracking firm Kpler, 29 commodity vessels crossed the strait on Saturday, but the number dropped to 12 on Sunday. This significant decline comes after a memorandum of understanding signed by Tehran and Washington on June 15 boosted traffic through the strait to its highest level since the start of the Middle East war.
The vessel was struck while transiting the strait on Saturday morning, and ships continued to use a southern corridor through Omani waters for several hours before traffic appeared to slow down. The website MarineTraffic, owned by Kpler, tracks only vessels with active transponders, which means additional ships may have crossed with their signals switched off.
The UN-led operation to evacuate 11,000 seafarers was suspended on Thursday after a vessel was struck in the Gulf of Oman. Four tankers and a container ship used the southern Omani corridor to enter the Gulf on Sunday, escorted by US Navy vessels, according to a post on X by HFI Research.
Iran said Monday that it had held its first meeting with Oman to discuss managing the strait, as Washington warns it will not accept transit fees for using what it considers an international waterway.
More ships entered the Gulf over the weekend than departed, reversing a trend seen over the previous week when efforts focused on evacuating seafarers stranded in the Gulf.
The Strait of Hormuz is a critical waterway that connects the Persian Gulf to the Gulf of Oman, and its closure can severely impact global oil supplies. With tensions rising between the US and Iran, the slowdown in traffic through the strait may be more than just a coincidence.
This development has significant implications for the global economy, particularly for oil-exporting countries in the region. Nigeria, being one of the major oil-producing nations in Africa, may be affected by this development as it relies heavily on oil exports.
With Iran warning against using unapproved shipping lanes, the situation in the Strait of Hormuz remains volatile, and it remains to be seen how this situation will unfold in the coming days.
This incident is a stark reminder of the delicate balance of power in the region and the importance of maintaining stable and secure shipping routes.
Key Facts:
• 29 vessels crossed the Strait of Hormuz on Saturday, but only 12 vessels crossed on Sunday. • The number of vessels crossing the strait has dropped significantly since the record of 70 crossings on Wednesday. • Four tankers and a container ship used the southern Omani corridor to enter the Gulf on Sunday, escorted by US Navy vessels. • Iran held its first meeting with Oman to discuss managing the strait on Monday. • The UN-led operation to evacuate 11,000 seafarers was suspended on Thursday after a vessel was struck in the Gulf of Oman.