Hormuz Strait Sees Lowest Tanker Traffic in Over Two Months Amid Red Sea Diversion Trends

The number of tankers crossing the Strait of Hormuz fell to just one on Thursday, the lowest level since May 7, according to shiptracking data, amid ongoing shipping risks in the Middle East and as oil prices surged back to $100 a barrel.

Only one tanker crossed the Strait of Hormuz on July 23, compared with three the day earlier, data from analytics firm Kpler showed.

Very large crude carrier New Giant, loaded with 2 million barrels of Iraqi Basrah crude, exited the strait on Thursday and is due to arrive at China’s Rizhao port by mid-August.

No ships entered the Strait of Hormuz on July 23.

The US military said late on Thursday that it had completed a 13th consecutive night of strikes on Iran.

Meanwhile, at the Bab el-Mandeb strait, commodity tanker crossings totaled 32 on July 23, up from 26 the day before, Kpler data showed.

Of those crossings, 14 tankers were going into the Red Sea, and 18 were exiting the strait into the Gulf of Aden.

Out of the 18 tankers exiting Bab el-Mandeb, nine were carrying crude oil, including two loaded Chinese supertankers bound for China.

Separately, the clean tanker Torm Innovation, loaded with around 500,000 barrels of naphtha bound for Asia, has made a slight turn for the Suez Canal exit instead of a typical Bab el-Mandeb exit, Kpler and LSEG shiptracking data showed.

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, regional trade sources said.

Saudi Aramco 2222.SE has started offering additional crude cargoes loading at Egypt’s Mediterranean port of Sidi Kerir as a workaround for loading at its Red Sea ports.

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