Strait of Hormuz shipping plunges 95% in March as US-Israel-Iran tensions rattle markets

Commercial shipping through the Strait of Hormuz, a key corridor for global energy flows, has been sharply curtailed since tensions flared among the United States, Israel and Iran. Market data show vessel traffic since March is down 95% from pre-conflict levels. Agence France-Presse, citing figures from maritime analytics firm Kpler dated March 23, reported that from March 1 to 16:00 GMT on March 23, just 144 commercial vessels transited the strait, compared with 2,787 recorded on February 28 before the conflict escalated. Of the 144 transits, 91 were oil and gas tankers, with most sailing eastward out of the strait. Data from the U.S. Navy-led multinational Joint Maritime Information Center put typical pre-conflict throughput at about 138 vessels per day. AFP added that ships transiting on March 23 appeared to be taking a northern route, said to lie north of Iran's Larak Island and approved by the Iranian government. (Xinhua News Agency)