The Week in Charts: The rise and fall of Gabon’s shadow fleet ship register | SCFI falls again as peak season appears to have peaked
- Gabon has revoked Intershipping Services’ authority to manage its ship register, ending the Dubai-based company’s last official role overseeing an international flag registry
- The move follows UK and EU sanctions against Intershipping for registering vessels involved in Russian oil trades, including tankers linked to Sovcomflot and shadow fleet* operator Gatik Ship Management
- SCFI global composite is down 7% vs the high reached two weeks ago, but is still up 87% year on year
- WCI global composite dips 2% versus last week but is up 75% year on year
Lloyd’s List’s weekly showing of the data and figures behind our news, analysis and markets coverage
SCFI falls again as peak season appears to have peaked
Peak season began early this year, fuelled by front-loading, and it may wind down early, wrote senior maritime reporter Greg Miller.
The Shanghai Containerized Freight Index global composite came in at 3,081 points this week, down 3% week on week and 7% versus the high posted two weeks ago.
Drewry’s World Container Index global composite came in at $4,547 per feu, down 2% week on week.
The SCFI is still up 87% year on year, and the WCI is up 75%.
Tanker transits through Strait of Hormuz plunge as Iran attack kills crew member
Oil tanker transits through the Strait of Hormuz nearly halved last week and are likely to fall further after an Iranian missile attack on two UAE-flagged tankers killed a crew member — the first seafarer fatality since the US and Iran signed a ceasefire memorandum in mid-June, reported APAC editor Cichen Shen, senior reporter Matthew Rajendra and senior risk and compliance analyst Bridget Diakun.
Tanker transits dropped to 59 in the week of July 6-12, down from 117 the previous week and 123 in the week ending June 28, according to preliminary data from Lloyd’s List Intelligence covering crude and product tankers above 10,000 dwt.
Strait of Hormuz traffic collapses amid escalating hostilities
Traffic through the Strait of Hormuz has collapsed in the wake of escalating hostilities between Washington and Tehran, wrote Bridget Diakun and senior reporter Joshua Minchin.
Just two non-Iran-linked vessels were tracked transiting the strait since Monday. But a swift resumption of ships turning off Automatic Identification System signals implies that many more dark transits may have continued even as the security picture in the region continues to worsen.
Over the previous four days, six transits daily had been traced getting through the strait amid missile strikes, but that trickle of traffic had all but dried up by last Monday. Before that, daily crossings had remained in double digits for three weeks as US-Iran relations improved and attacks on commercial shipping ceased.
Russia’s oil surge lifts India imports as Hormuz choke bites
The influx of barrels from Russia has been key in aiding India’s crude import recovery as supplies from the Middle East Gulf stay tight with the current choke on the Strait of Hormuz, reported Matthew Rajendra.
Imports in June recovered to levels close to the pre-crisis average seen from July 2023 to February 2026, Vortexa data showed. Imports rose by 3.67% on the month in June to 4.8m barrels per day. This was 4.3% higher than the pre-crisis average of 4.61m bpd.
Imports first broke pre-crisis levels in May, with 4.63m bpd discharged at Indian shores.
