Strait of Hormuz Navigation Declines Amid Escalating US-Iran Tensions

Shipping traffic in the Strait of Hormuz declined below its monthly average towards the end of the week, amidst escalating tensions between the United States and Iran, with both sides claiming control over the vital waterway. Washington announced on Thursday its capability to maintain the naval blockade on Iran indefinitely, affirming its determination to intensify economic pressure on Tehran as ceasefire negotiations falter. Despite a slight increase in cargo ship traffic through the Strait on Thursday, it remained below the daily monthly average of 12 vessels, according to Kepler data. The data indicated that a total of 9 vessels crossed the passage on Thursday, an increase from 5 vessels the previous day, including 5 entering the Arabian Gulf and 4 exiting into the Gulf of Oman, mostly via the Iranian shipping route. Risks to shipping continued, with the Abu Dhabi National Oil Company (ADNOC) announcing that two of its tankers were attacked while transiting the Strait of Hormuz on Thursday evening, with no injuries reported. The UAE accused Iran of responsibility for the attack. Meanwhile, Kepler data showed that 19 commodity ships crossed the Bab el-Mandeb Strait on Thursday without turning off their transponders, a figure generally stable after 20 ships crossed the previous day.