Hormuz Strait Traffic Peaks Amid Renewed Uncertainty

Ship traffic through the Strait of Hormuz saw its busiest period in two months on Thursday, with 25 merchant vessels navigating the crucial waterway. This surge represented more than triple the average of just over seven ships per day since early March, according to data from tracking firm AXSMarine.

However, the increased activity was short-lived. Traffic saw a decline on Friday amid renewed uncertainty, reportedly triggered by the discovery of a mine near Oman's coast. This incident has heightened concerns in a region already tense due to maritime security issues.

Adding to the complexity, Iran has introduced new regulations for passage through the strait. The Iranian authority PGSA now requires all ships to submit a transit request 48 hours in advance. While the authority reportedly offers insurance for passage, it reserves the right to impose fees in the future. These measures come as part of a 60-day agreement with the U.S. where Iran pledged to "do its best to facilitate safe and cost-free passage" for merchant ships.

Despite these developments, a significant number of commercial vessels and seafarers remain affected. According to the International Maritime Organization, over 500 commercial vessels and around 11,000 seafarers are still stranded in the Gulf, including approximately 20 Norwegian-affiliated ships.