Daily ship transit through the Strait of Hormuz has plummeted by more than 95% since the commencement of military operations involving the US and Israel against Iran.
The Operative Information Center-OMM reports that these figures were released in a recent report by the United Nations Conference on Trade and Development (UNCTAD). The document highlights a near-total paralysis of one of the world's most critical maritime corridors.
"Shipping through the Strait of Hormuz has been disrupted, with transit traffic decreasing by more than 95%, leading to significant interruptions in energy and fertilizer supplies," the report stated. According to the organization, by early March, daily transit through the strait did not exceed a capacity of 10 vessels, compared to an average of 103 vessels during the final week of February. This drastic reduction in maritime traffic has already triggered a sharp increase in global oil prices.
The Strait of Hormuz is a vital strategic waterway located between Oman and Iran, connecting the Persian Gulf with the Gulf of Oman and the Arabian Sea. It is considered the world's most important oil chokepoint, as approximately one-fifth of the world's total oil consumption passes through the strait daily. Any prolonged closure or significant disruption to this route typically results in high volatility in global energy markets and impacts the supply chains of liquefied natural gas (LNG) and essential agricultural commodities like fertilizers.
