The movement of oil tankers through the vital Strait of Hormuz, amidst the raging war in the Middle East, has been reportedly curtailed by a mammoth 92%, which is seen as the sharpest disruption to energy flows in modern history.
The recent data has been shared by the energy intelligence firm Kpler, which tracks the movements through the strategic Strait of Hormuz waterway. The firm says that the traffic through the waterway has dropped in a dramatic manner since the beginning of the US-Iran hostilities.
According to Kpler, a small number of vessels were still attempting to cross the strait, despite the dangers. The firm has maintained that the ships have switched off their Automatic Identification System (AIS) tracking signals to avoid detection.
“Unlike several other vessel segments where movements have largely ceased, some tankers are still travelling east and west through the strait, with several voyages occurring under AIS blackouts,” said Matt Wright, Principal Freight Analyst at Kpler.
Also Read: Iran Will Allow Only Chinese Vessels To Pass Through Strait Of Hormuz: Report
What is the Strait of Hormuz?
The vital maritime chokepoint provides open sea access to countries, including the United Arab Emirates and Qatar among others. Roughly, more than 20% of the global oil supplies pass through the Strait before they proceed into the Asian markets, including China and India.
The blockade:
Iran has threatened that any vessels sailing through the Strait will be targeted and damaged, closing it essentially for all kinds of traffic.
Tehran’s elite force, the Islamic Revolutionary Guards Corps (IRGC) has said that they are now in “complete control” of the Strait and “any vessels seeking to pass risk damage from missiles or stray drones”.
Tehran has, however, allowed China to use the Strait, considering Beijing’s pro-Iran stance amid the war. Beijing is terming the airstrikes on Tehran as “unacceptable”.
At the beginning of the war, China had appealed for an immediate ceasefire and the safety of shipping lanes, given that Beijing is the main buyer of Iranian oil. Most of China’s supplies pass through the Strait of Hormuz.
“China urges all parties to immediately cease military operations,” Chinese foreign ministry spokesperson Mao Ning had said, adding, “further escalation should be avoided, and safety of the shipping lanes in the Strait of Hormuz must be protected, to prevent a greater impact on the global economy.”
Trump’s promise to protect vessels in the Strait of Hormuz
US President Donald Trump has said that his country’s navy will escort tankers through the strait if necessary. “The US Navy will be escorting tankers through the Strait of Hormuz, as soon as possible, and if necessary,” he said on the Truth Social platform.
He asserted that “no matter what” the US will ensure the “FREE FLOW of ENERGY to the WORLD (sic).”
Also Read: Chinese Shipping Giant Cosco Suspends Gulf Services Amid Strait Of Hormuz Restrictions
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