EconomyStrait of Hormuz Traffic Falls to Lowest Since May After Tanker Strikes

Strait of Hormuz Traffic Falls to Lowest Since May After Tanker Strikes

Shipping traffic through the Strait of Hormuz has fallen to an average of just 10 commodity vessels per day, its lowest level since May, according to data released Monday, after a fresh round of US and Iranian strikes on oil tankers further blurred the line between military confrontation and commercial shipping in the critical waterway.

What Happened

The 10-day moving average for vessels transiting the strait stood at 10 on Sunday, down sharply from more than 15 on Friday and nearly 13 on Saturday, according to shipping data from analytics firm Kpler. Only two vessels passed through the strait on Saturday, while six went through on Sunday, with most using what maritime intelligence firms describe as the “Iranian route” through the waterway.

The decline followed Saturday’s US strikes on three Iranian oil tankers, including one off Kharg Island, Iran’s key oil export hub, carried out in response to Iranian Revolutionary Guard missile attacks on two US Navy warships. In retaliation, Iran’s Revolutionary Guard navy said it targeted three additional oil tankers traveling unauthorized routes through the strait, along with three other US-linked vessels elsewhere in the region.

Maritime intelligence firm Marisks described the exchange as a major escalation in the maritime conflict, warning that “commercial tankers are now being deliberately used as instruments of reciprocal economic pressure, substantially weakening the previous distinction between military confrontation and commercial shipping.” The firm assessed risk as “extreme” for Iranian or Iran-linked vessels and “materially elevated” for US-linked or US-escorted shipping throughout both the Strait of Hormuz and the Gulf of Oman. Separately, a tanker carrying refined products loaded from a Saudi port attempted to exit the strait but was turned back, and no very large crude carrier has exited the waterway since Wednesday, according to Kpler data.

Why It Matters

The drop to just 10 vessels daily represents a significant deterioration in one of the world’s most critical oil shipping corridors, through which roughly a fifth of global oil and liquefied natural gas normally transits, with the current traffic level falling well short of the strait’s pre-war capacity even months into the ongoing conflict.

The explicit characterization of commercial tankers as “instruments of reciprocal economic pressure” reflects a significant and troubling shift in how both the US and Iran are approaching the conflict’s maritime dimension, with civilian shipping increasingly treated as a legitimate target for military and economic retaliation rather than a protected category separate from direct combat.

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The traffic decline is notable given that it occurred despite the US Navy’s own claims of having significantly increased its escort operations for commercial vessels through the strait, suggesting a genuine disconnect between the scale of American protective efforts and the actual willingness of shipping companies to risk transiting the waterway.

Context and Background

The Strait of Hormuz has remained the central flashpoint of the broader US-Iran conflict since fighting resumed after a month-long pause earlier in the month, with this weekend’s tanker strikes representing an escalation beyond the earlier exchange involving Iranian missile attacks on Jordan, the UAE, Kuwait, and Bahrain.

The three Iranian tankers targeted by US forces, named Downy, Stark I, and Kylo (also known as Noxen), were described by CENTCOM as part of a multibillion-dollar shadow network funding the Islamic Revolutionary Guard Corps and its regional proxies, providing the stated justification for the strikes beyond direct retaliation for the missile attacks on US warships.

Shipping through the strait has fluctuated significantly throughout the conflict’s various phases since February, with previous periods of relative calm allowing traffic to partially recover before renewed escalation, as seen this week, driving activity back down toward crisis-level lows.

Analysis

Maritime security analysts note that the specific gap between the US Navy’s claims of expanded escort operations and the observed decline in overall shipping traffic suggests that individual commercial operators continue to make independent risk assessments that outweigh any confidence they might place in military protection guarantees, given the demonstrated willingness of both sides to target vessels directly.

Energy market analysts point to the near-total halt in very large crude carrier exits from the strait, none since Wednesday according to Kpler data, as a particularly significant signal, given that VLCCs represent the largest and most economically consequential class of oil tankers, meaning their absence carries outsized implications for global crude supply relative to smaller vessel counts alone.

Some shipping industry analysts caution that Marisks’ framing of tankers as deliberate economic pressure tools reflects a genuine strategic shift rather than incidental collateral damage, suggesting continued and potentially sustained disruption to Gulf shipping regardless of any near-term diplomatic developments in the broader conflict.

What Happens Next

Continued monitoring of shipping traffic through the strait will be important given the demonstrated sensitivity of vessel movement to each new development in the US-Iran conflict, with further strikes on tankers from either side likely to compound the current traffic decline if the pattern of escalation continues.

Markets and shipping companies will be watching closely for any sign of a durable de-escalation that might restore commercial confidence in the waterway, though the current risk assessments from maritime intelligence firms suggest that meaningful traffic recovery remains unlikely absent a genuine resolution to the underlying conflict.

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