Vessel traffic in Strait of Hormuz continues

LONDON

Vessel traffic in the Strait of Hormuz has yet to see a considerable decline, as ships continue transiting the seaway amid attacks by Israel on Iran.

Six tankers, however, have reportedly performed U-turns to avoid transiting the route.

Ismail Kowsari, from Iran’s National Security Committee, said parliament voted to close the strait, but a final decision rests with the Supreme National Security Council.

While maritime traffic continues in the Strait of Hormuz amid the conflict, as of Sunday morning, six vessels had turned back, according to MarineTraffic data.

The chemical carrier Marie C departed Fujairah, in the United Arab Emirates, for Kuwait but reversed course to remain in the Gulf of Oman.

UK-flagged tanker Kohzan Maru, which left Niigata, Japan, on May 29, is currently anchored in the Gulf of Oman. And the Panama-flagged Red Ruby, which departed Fujairah on June 18, also turned away from the strait.

On Sunday, the crude oil tanker South Loyalty -- departing Ulsan, South Korea, on May 14 to load Iraqi oil in Basra -- initially reversed course before resuming its planned voyage through the strait.

Similarly, the Hong Kong-flagged oil tanker Coswisdom Lake departed from Zhanjiang, China, on June 7 to load crude oil from the United Arab Emirates but the vessel ended up diverting to the Emirati Zirku Island Terminal.

The Norwegian-flagged oil tanker Damsgaard also made a U-turn after departing Pakistan on June 20 to reach Ruwais in the United Arab Emirates.

The significance of the Strait of Hormuz

The narrow channel between the Persian Gulf and the Gulf of Oman is a critical artery for global oil and liquefied natural gas trade. Roughly one-third of the world’s seaborne crude and one-fifth of total oil consumption pass through the seaway daily.

Through the Strait of Hormuz, most of the 20 million barrels of oil and petroleum products transported daily reach Asian markets, primarily China. A large part of Iranian oil is exported to China via the waterway.

Some 85% of Iraqi oil is transported through the Strait of Hormuz, while Saudi Arabia makes up 35% of oil transported via the waterway, followed by the United Arab Emirates with 20% and Iraq with 27%.

About 20% of the global liquefied natural gas trade also relies on the route.