Strait of Hormuz shipping traffic drops over 90%
after close1 source ↓written by the desknot a recommendation
- navigating the route
- 10 ships daily
- conflict intensified
- 28 Feb 2023
Shipping traffic through the Strait of Hormuz has plummeted by over 90%, with fewer than 10 ships daily navigating the route amid escalating tensions in West Asia. The UK Maritime Trade Operations reported over 40 incidents involving merchant vessels, including direct attacks and harassment, since the conflict intensified on 28 Feb 2023.
This significant decline in shipping activity may impact oil supply chains and global energy markets, raising concerns over potential price volatility in the coming weeks.
Not investment advice. For informational purposes only.