Hormuz tanker traffic hits two-month low as attacks disrupt shipping
Seven commodity vessels crossed the Strait of Hormuz on Tuesday, the lowest number since July 23, as attacks on tankers reached their highest weekly level since the Iran war began, according to Reuters and shipping data from Kpler. Kpler said crude flows through the strait fell 27% to at least 10.1 million barrels a day, while exports from the Gulf of Oman coast and the Red Sea rose to 6.7 million barrels a day, helping keep overall Middle Eastern crude exports at pre-war levels.
Bottom line — Kpler puts Hormuz crude flows at 74% of their pre-war level, despite Middle Eastern exports recovering overall.
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Reuters reported that traffic rose to 10 vessels on Wednesday, still well below the more than 20 recorded on Sunday and Monday.
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Kpler analysts said most of the decline was in ship-to-ship transfers in the Gulf of Oman.
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Reuters said the figures exclude vessels crossing with their tracking transponders switched off.
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The UK Maritime Trade Operations agency reported that projectiles struck a tanker 51 nautical miles north of Qatar on Wednesday, with casualties.
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Vitol chief executive Russell Hardy warned at a London industry forum that ship-to-ship transfers leave tankers tied up and contribute to a wider shipping capacity squeeze.
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OilPrice.com reported that global crude tanker earnings exceeded €460,000 a day ($500,000), while Saudi Arabia-to-Rotterdam shipping costs rose above €32 per barrel ($35).