Singapore, August 26: Shipping traffic through the strategically vital Strait of Hormuz remained alarmingly low on Tuesday. According to preliminary data from ship-tracking company Kepler, only five commodity vessels passed through the strait that day, compared to an average of 15 vessels daily over the past ten days.
As reported by Reuters, two liquefied petroleum gas (LPG) tankers and one tanker carrying bitumen exited the strait, while two empty product tankers entered. The day before, only one vessel was reported to have passed through.
However, these figures are preliminary and subject to change. Some vessels turn off their transponders during transit, which can lead to inaccuracies in ship-tracking systems.
The Strait of Hormuz is a crucial maritime route for global energy supplies. The ongoing decline in shipping traffic comes at a time when Iran and Oman are negotiating to restore navigation through the strait. Both parties are discussing the establishment of a temporary navigation corridor and the removal of mines from the waterway.
On Tuesday, hopes for reopening the strait were bolstered by the Iran-Oman talks, leading to a decline in oil prices. The two nations discussed creating a joint temporary navigational corridor. Nevertheless, maritime traffic data indicates that normal operations have not yet resumed.
Iran and Oman have been in discussions for several weeks about establishing a temporary maritime route to resume shipping through the Strait of Hormuz. They have also agreed to remove sea mines from this route.
While former U.S. President Donald Trump previously claimed that all mines had been cleared from the strait, tensions between the U.S. and Iran have eased, yet a peace agreement remains elusive. Consequently, the strait continues to pose challenges for shipping companies.
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