Hormuz tanker crossings slip to lowest in more than two months, data shows

Shipping traffic through the vital Strait of Hormuz has dwindled to its lowest point in more than two months, with just one tanker recorded passing through on July 23. Data from analytics firm Kpler shows this sharp decline, occurring as regional shipping risks persist and oil prices rebound to $100 a barrel.

The single tanker observed was the Very Large Crude Carrier New Giant, carrying 2 million barrels of Iraqi Basrah crude destined for China. Notably, no ships entered the Strait of Hormuz on that day. This reduction in traffic comes amid heightened tensions in the Middle East, with the U.S. military reporting its 13th consecutive night of strikes on Iran.

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One tanker crossed the Strait of Hormuz on July 23, compared with three the day earlier

In contrast, traffic at the Bab el-Mandeb strait has seen an increase, with 32 commodity tanker crossings on July 23, up from 26 the previous day. Of these, 14 tankers were heading into the Red Sea and 18 were exiting into the Gulf of Aden. Some vessels, like the clean tanker Torm Innovation, are making slight detours via the Suez Canal to Asia instead of the typical Bab el-Mandeb exit, a rerouting that could nearly triple voyage times, according to regional trade sources.

This shift in shipping patterns is prompting workarounds, with Saudi Aramco reportedly offering additional crude cargoes from Egypt's Mediterranean port of Sidi Kerir as an alternative to loading at its Red Sea ports. The situation highlights the delicate balance of maritime trade in the region and the impact of geopolitical events on global energy flows.

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Rerouting ships via the Suez Canal to Asia instead of via the Bab el-Mandeb Strait could make the voyage nearly three times as long