Cargo News & Analysis

Strait of Hormuz Vessel Traffic Drops 66% Amid Rising Tensions

Vessel crossings through the Strait of Hormuz fell sharply since U.S. President Donald Trump's blockade took effect last week. Lloyd's List Intelligence recorded only 53 vessel transits in the week through July 20, down 66% from 157 the prior week. Tanker and gas carrier movements decreased to 30 from 90, highlighting the impact of renewed U.S. strikes and Iran's maritime traffic ban. This situation significantly affects global oil supply, as the Strait carries roughly a fifth of global oil consumption. This drop in traffic could lead to higher oil prices due to supply constraints for ordinary investors.