Shipping through the Strait of Hormuz gradually recovers despite Middle East escalation

Commercial shipping through the Strait of Hormuz is gradually recovering despite the ongoing escalation of hostilities in the Middle East. According to U.S. officials, the U.S. Navy is escorting some oil and gas tankers through the strategic waterway, helping to maintain regional energy exports.

Ship-tracking data show that a liquefied natural gas (LNG) tanker departed Qatar for the first time in nearly three weeks, while some vessels have continued to transit the strait with their transponders switched off. According to analytics firm Kpler, 14 commodity-carrying vessels passed through the Strait of Hormuz in both directions in a single day, indicating a gradual recovery in traffic.

Freight markets, however, remain under pressure. A preliminary booking for a very large crude carrier (VLCC) to transport oil from the Persian Gulf to China was reportedly agreed at nearly $500,000 per day, highlighting the elevated risks facing shipping in the region. U.S. Energy Secretary Chris Wright said that, with U.S. military support, around 6.5 mln barrels of oil per day continue to be exported from the Gulf.

Market participants are also closely monitoring developments in the Red Sea and the Bab el-Mandeb Strait, where the threat of attacks on commercial vessels persists. Despite these risks, some tankers continue calling at Saudi Arabia’s Yanbu port, while a number of Asian buyers have shifted to cargoes loaded through Egypt’s Sidi Kerir terminal, which Saudi Arabia uses as a crude oil export hub.

The recovery in shipping through the Strait of Hormuz is easing concerns over global oil and LNG supplies, but the situation remains fragile. Any renewed escalation or attacks on commercial vessels could once again disrupt traffic through one of the world’s most important energy trade routes.

Tags: Hormuz