IRAN’S shadow fleet* operations are being disrupted by the US naval blockade, but a build-up of vessels in the Arabian Sea, with other tankers sailing towards the Middle East Gulf, suggests a wait-and-see approach is being adopted by some, wrote senior risk and compliance analyst Bridget Diakun and senior reporter Joshua Minchin.

Lloyd’s List Intelligence data showed a cluster of 18 traceable tankers, those over 80,000 dwt and with Automatic Identification System enabled, last week that had arrived in the area outside the US dictated blockade since its implementation.

Instead of sailing into the Gulf of Oman, as would be usual practice, the ships have diverted while remaining on the east side of the blockade line.

One in every six Strait of Hormuz transits is fraudulently flagged

Vessels using fake flags, forged certificates and opaque ownership structures are increasingly moving through the Strait of Hormuz, with one in every six transits since the start of the Middle East conflict involving a fraudulently registered ship, a Lloyd’s List analysis shows, reported editor-in-chief Richard Meade and maritime risk analyst Tomer Raanan.

The International Maritime Organization lists 513 vessels worldwide as fraudulently registered — ships operating with counterfeit certification issued by one of 82 fake flag registries. As of Tuesday afternoon, 92 of them were trading either inside the MEG or off the Gulf of Oman.

Traffic through the strait has collapsed by more than 90% since the conflict began, but sporadic tanker and gas carrier movements continue.

Zodiac Maritime returns to Chinese yard for more panamax vehicle carriers

Zodiac Maritime has returned to Chinese shipbuilder Yantai CIMC Raffles Shipyard for further panamax-class pure car and truck carrier newbuildings, reported markets editor Rob Willmington.

The latest order provides for two dual-fuel liquefied natural gas, 7,000 ceu, ships with delivery booked for 2028.

It follows newbuilding contracts for 10 vessels of the same design, ordered from Yantai CIMC Raffles Offshore between 2021 and 2023.

Hormuz traffic edges higher after lull

Following the previous week’s surge in attacks on shipping and a big drop in the traffic through the Strait of Hormuz, the week ending May 17 saw an uptick in transits, wrote senior reporter Ece Göksedef.

According to the Lloyd’s List Intelligence vessel-tracking data, at least 54 ships transited through Hormuz between May 11 and 17, compared to just 25 in the previous week. 

Half of the vessels which transited Hormuz across the week were related to trade with Iran, compared to 10 the previous week.

Ship recycling sales slump as high charter and freight rates delay demolition decisions

Ship recycling sales have plummeted in recent weeks, with demolition sales largely confined to smaller vessels and total loss casualties as shipowners continue to profit from elevated freight earnings across multiple sectors, reported markets editor Rob Willmington.

The prolonged disruption to global shipping routes caused by instability in the MEG, combined with widespread diversions around the Cape of Good Hope, has significantly tightened vessel supply and boosted charter markets.

As a result, owners are choosing to keep older ships in operation rather than send them for recycling.