The security landscape for oil tankers in the Middle East has deteriorated to its most critical point since the onset of the current conflict, according to industry experts. The crisis, previously centered on the Strait of Hormuz, has now expanded to include vital alternative routes in the Red Sea.
Data from ship-tracking firm Kpler indicates that traffic through the Strait of Hormuz has plummeted, with as few as eight to 11 vessels passing through daily, compared to over 100 before the war. While a brief peace deal in early June provided a temporary respite, the resumption of hostilities has caused traffic to decline once more. Many vessels are now opting to "go dark" by disabling their transponders to evade detection.
Compounding these difficulties, Houthi fighters backed by Iran have initiated a blockade on Saudi Arabian Red Sea ports. This has forced tankers to navigate a high-risk environment, with the UK Maritime Trade Operations agency reporting multiple attacks in the area over the past week. Matthew Wright, an analyst at Kpler, described the situation as "a problem stacked on top of a problem," noting that the alternative routes previously used to bypass the Strait of Hormuz are no longer secure.
Industry leaders have expressed deep concern regarding the broader implications for global trade. Tim Wilkins, managing director of the trade body Intertanko, stated that the sector is facing a "broadening, deteriorating, and increasingly complex security situation." Peter Sand, chief analyst at Xeneta, added that the industry has been pushed "back to square one," with no immediate resolution in sight.
While Iran has engaged in discussions with Oman regarding the shipping lanes, the country’s foreign ministry spokesperson, Esmaeil Baqaei, indicated that no deal to lift restrictions is imminent while US "aggression" persists. Even if a resolution were reached, experts suggest that restoring normal cargo flows would likely require three to four months due to the redeployment of vessels and suspended services.
Source: BBC News
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