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Shipping traffic through Hormuz remains muted in recent days

Oil tanker HELGA is moored at one of Iraq's southern offshore oil terminals near Basra. — Reuters
 
Oil tanker HELGA is moored at one of Iraq's southern offshore oil terminals near Basra. — Reuters

LONDON: At least seven ​ships — mainly dry ​bulk vessels — have crossed the Strait of Hormuz in the past 24 hours, in line with muted activity in recent days, shipping data showed on Monday, while ⁠talks between Iran and the United States have ⁠stalled. The vessels included ships leaving from Iraqi ports and one dry bulk vessel from an Iranian port, according to ship tracking data ​from Kpler ⁠and separate satellite analysis from ​data analytics specialists SynMax.
Shipping traffic ‌passing through the crucial waterway at the entrance to the ​Gulf during an uneasy ceasefire between Washington and Tehran represents a fraction of the average 140 daily passages before the Iran war began on February ‌28.
The US Central Command has redirected ​37 vessels since a blockade was imposed on Iran ​on ‌April ⁠13, the military said on April 25. Six Iranian tankers returned to Iranian ports and ​sailed back through Hormuz in recent ⁠days with ​some 10.5 million barrels of oil, according to satellite analysis from TankerTrackers.com. Around four million barrels of Iranian oil onboard tankers sailed through the ​US blockade on April 24, according ​to separate satellite analysis from TankerTrackers.com.
The inflationary fallout from the Iran war has been at the forefront of concerns, as the crucial Strait of Hormuz, which handles over one-fifth of the world's energy trade, remains choked, especially for energy-reliant Asian and ​European economies. However, as the war enters its third month, investors seem to be looking past the conflict to focus ​on economic fundamentals ⁠and quarterly earnings.
Six tankers loaded with Iranian oil have been forced back to Iran by the US blockade in recent days, ship-tracking data shows, underscoring the impact the Iran war is having on traffic through the Strait of Hormuz. The strait typically handles 20% of the world's daily supply of oil and LNG. Activity has remained curtailed through it as talks ​between Iran and the United States remain stalled nearly two months into the war. — Reuters