Strait of Hormuz traffic falls as reopening efforts make little headway
- According to Lloyd’s List Intelligence data, traffic volumes slumped 48% last week on the previous week
- Despite the overall collapse in transits, at least half of all transits continued to involve Iranian cargoes
- Towards the end of the week, dark transits peaked as the security situation deteriorated
Hormuz transits plunged to nearly half their previous levels last week, with US interdictions, Iran’s new traffic authority and stalled negotiations combining to push vessel movements below early war lows
