Shipping traffic in Strait of Hormuz nearly halts after attack on four vessels
Vessel tracking data shows shipping in the Strait of Hormuz has almost stopped since October 1, following reports of attacks on four ships.
Key Takeaways
AIMaritime tracking data from the MarineTraffic platform shows that shipping traffic through the Strait of Hormuz has come to a near standstill since midnight on October 1. This follows reports that four vessels were targeted while transiting the strait last Tuesday, according to the UK Maritime Trade Operations agency.
Amid heightened security tensions, ship-to-ship oil transfers at sea have emerged as a way to avoid risks associated with ports and areas facing potential threats. These operations allow crude oil cargoes to be moved between tankers before reaching global markets.
Iran has previously used this method to circumvent US sanctions on its oil exports. Media reports indicate that ship-to-ship transfers are now increasingly being used to move oil from the Gulf region to various destinations.
According to experts cited by Reuters, the use of ship-to-ship transfers has taken on new dimensions under current circumstances, as security concerns over regional shipping persist.