Tuesday, 02 January 2024 12:17 GMT

Strait of Hormuz Shipping Is Near Standstill Amid Fragile US-Iran Truce


(MENAFN) Commercial shipping through the Strait of Hormuz remained severely restricted over the past 24 hours as of 1500GMT Monday, with only 15 vessels detected in transit, according to shipping data, amid heightened tensions and a fragile ceasefire between the US and Iran following the seizure of an Iranian-flagged ship.

Data showed eight vessels moving west to east and seven traveling east to west during a period marked by volatility and sharply increased war risk insurance costs.

West-to-east movements included Meda, G Summer, Reyfa, Seaway, Sanmar Herald, Aroya, Nova Crest, and the cruise ship Mein Schiff 4. Among them, Nova Crest and G Summer were reportedly operating through the northern corridor under elevated risk conditions.

East-to-west traffic included Sawqrah, Axon I, Atlantic Harmony, Soufia I, Starway, Gulfmoon, and Black Maya. Most were listed as in transit, though some, including Atlantic Harmony, appeared to proceed cautiously near the blockade zone.

The composition of vessels suggests that while crude oil flows have largely stalled, some regional transport and specialized tankers continue to attempt passage. Shipping data identified Sanmar Herald as a VLCC tanker, while Meda, G Summer, and Axon I were categorized as LPG carriers.

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