Oil tankers are continuing to navigate the Strait of Hormuz, in the face of recent attacks on an oil tanker and a container ship according to ship tracking data.
Recently there was a drone attack on a Singapore-flagged cargo ship and a Panama-flagged merchant vessel on Thursday and Saturday, both of which have been blamed on Tehran.
This willingness of shipping companies to continue to move through the Strait is reflected in a desire to ensure that more oil barrels can supply the global oil market. The price of Brent futures recently fell below $71 for the first time since the war started.
Clear Waters
According to Bloomberg, two clear transit routes have emerged over the past several weeks, one in Iranian waters and the other near the cost of Oman. The main transit corridor normally used by vessels currently has 80 mines, according to the International Maritime Organisation (IMO).
Iran has publicly said that ships transiting within its permission would be dealt strongly with, and many ships are currently using US assistance to help navigate the strait. The US and Iran are currently in peace negotiations.
Transit Calls
Our analysis of transit ships calls by Oil and Cargo tanker through the Strait, shows that before the war, there was on average 83 daily ships calls. In the months following the war, this figure fell to 5.
In total, there has been 49 attacks on commercial vessels in the Strait of Hormuz since the war started, according to Marine Traffic.
However, there is still hope, as shown in the departure of a Saudi Arabian oil supertanker from Ras Tanura Terminal. This marks the first time since the war started that a tanker has been loaded and left the terminal.
