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Trump's shift in tone fails to revive Hormuz traffic

  • : Freight, LPG
  • 26/03/24

US president Donald Trump's sudden shift from threats to talks with Iran has done little to revive tanker traffic through the strait of Hormuz. Only two notable crossings were recorded in the past 24 hours, according to MarineTraffic data.

The Gas Lucky, an LPG carrier, transited the channel between Qeshm and Larak islands at around 08:00 GMT on Tuesday. The Jasmin, a small tanker carrying fuel oil, sailed westbound into the Mideast Gulf on Monday evening.

Traffic through Hormuz remains 95pc below pre-war levels, shipbroker Clarksons said today, averaging four crossings a day over the past week compared with around 125 before the conflict began on 28 February.

Trump on Monday postponed a threatened round of US strikes on Iranian power plants for five days, citing "very strong" talks with unidentified figures he said "seem to be running" Iran. But Tehran later denied any negotiations had taken place, with parliamentary speaker Mohammad Bagher Ghalibaf saying "fake news" was being used "to manipulate the financial and oil markets".

The contradiction appears to have reinforced caution among shipowners and charterers considering a passage through the strait.

Clarksons said roughly 1,100 vessels are currently inside the Gulf, excluding local trading ships. The total includes about 300 oil tankers accounting for 6pc of global crude tanker tonnage and 4pc of product tanker tonnage.

Around 10 oil tankers — carrying about 12mn bl — have passed through Hormuz in the past week, compared with about 250 vessels carrying 300mn bl in a normal week, Clarksons said. Before the conflict, about a fifth of global oil supply passed through Hormuz, alongside 19pc of global LNG trade and 28pc of global LPG volumes, it added.

By Rhys van Dinther

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26/03/24

Hormuz transits remain 95pc down: Clarksons

Hormuz transits remain 95pc down: Clarksons

London, 24 March (Argus) — Vessel transits through the strait of Hormuz remain 95pc down compared with before the start of the US-Iran war on 28 February, shipbroker Clarksons said today. Transits through the strategic waterway have been running at just four each day over the week to 23 March, compared with around 125 each day before the conflict, Clarksons' research arm said today. Just 10 oil tankers carrying 12mn bl in total have exited the Mideast Gulf via the strait during the past week, compared with 250 vessels carrying around 300mn bl normally. The vessels on the move include a "trickle" of very large LPG carriers, with two recorded on 22 March and another two — both "Indian-linked" — passing through the strait on 23 March, a flow which is 80pc below normal levels before Iran threatened to attack any vessel using the waterway. Around 1,100 vessels are currently inside the Mideast Gulf, Clarksons said, excluding local trading vessels. That total includes around 300 oil tankers, with 6pc of global crude tanker and 4pc of all product tanker tonnage, 4pc of very large gas carriers and 1pc of containerships and bulker tonnage. Some 20pc of global oil supply passed through the strait of Hormuz before the US-Iran war started, including 37pc of seaborne crude oil and 19pc of seaborne products trade. And 19pc of global LNG trade also passed through the strait, Clarksons said, alongside 28pc of global LPG volumes, 13pc of seaborne petrochemicals, 4pc of dry bulk and 3pc of container trade volumes. Clarksons said that crude exports from the Saudi Arabian port of Yanbu on the Red Sea are running at around 4mn b/d now, up from 1mn b/d before the war, with around 40 very large crude carriers (VLCC) either waiting there or on route. By Gavin Attridge Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

At least three vessels exit strait of Hormuz

26/03/23
26/03/23

At least three vessels exit strait of Hormuz

London, 23 March (Argus) — At least three vessels transited the strait of Hormuz early on Monday via the narrow channel between Iran's Qeshm and Larak islands, according to ship tracking data. The transits come amid tentative signs that diplomatic moves may be getting under way to resolve the de facto closure of the strait. US president Donald Trump said earlier today that he had ordered a five-day pause in planned strikes on Iranian energy infrastructure following what he described as "very good" and "productive" conversations with Iranian officials. Two very large gas carriers (VLGCs) — Pine Gas and Jag Vasant — transited the Qeshm–Larak channel early on Monday, according to Kpler, Vortexa and MarineTraffic. The Medium Range clean products tanker Bright Gold also passed through the same gap. Pine Gas loaded at Ruwais in the UAE almost a month ago, while Jag Vasant loaded at Mina al-Ahmadi in Kuwait around the same time. Both vessels had remained in Gulf waters for weeks before making the transit, drifting off the coast of Ras Al Khaimah in the UAE. There is no confirmation that Iran has deployed sea mines in the strait of Hormuz. But if mines were placed in the southern portion of the strait, the Qeshm–Larak gap could serve as a narrow checkpoint for controlled outbound transits. The two VLGCs are bound for India, according to ship tracking data. Trump on Saturday threatened to attack Iran's power plants if the Hormuz strait was not reopened within 48 hours, but today he rowed back on that plan, postponing the strikes for five days following what he said were "very strong" talks with unidentified officials who "seem to be running" Iran. Iranian state-linked media denied that any direct or indirect talks with the US had taken place, contradicting Trump's account and adding uncertainty to the political backdrop. The US pause may prompt more vessels stuck in the Mideast Gulf to attempt to cross the Hormuz strait. Only a limited number of ships have made it through since the start of the US-Israeli war with Iran on 28 February. By Rhys van Dinther Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Explosion reported near bulk carrier off UAE coast

26/03/22
26/03/22

Explosion reported near bulk carrier off UAE coast

Dubai, 22 March (Argus) — An explosion from an unknown projectile was reported near a bulk carrier off the UAE's Sharjah coast late on Saturday, UK Maritime Trade Operations (UKMTO) said today. It is the latest in a series of attacks on commercial vessels in Mideast Gulf waters since the US-Israeli war against Iran started three weeks ago. UKMTO said the incident was reported 15 nautical miles north of Sharjah at 23:08 GMT on 21 March. The blast occurred close to the vessel, suggesting it may have been the intended target, although no direct hit was reported. The crew were reported to be safe. The Sharjah case follows other projectile-related incidents involving commercial vessels this month, including one east of Ras Laffan in Qatar on 19 March, showing that the risk is spreading across waters around the strait of Hormuz. Traffic through the strait remains heavily disrupted, with only a limited number of vessels passing since the war began on 28 February. Iran's retaliation has also included missile and drone strikes on energy infrastructure across neighbouring Gulf states, adding to security risks for shipowners and charterers. US president Donald Trump on Saturday night threatened to target Iran's power plants if Tehran does not stop attacking shipping through Hormuz by 23 March, after weeks of shifting US signals over how the waterway should be protected. Trump had initially sought support from countries reliant on Mideast Gulf energy flows to help secure transit through the strait. But after allies in Europe and Asia-Pacific pushed back, he said on 17 March that Washington would reopen it on its own. Iran, meanwhile, has suggested that passage through Hormuz may remain open for some vessels. Iranian foreign minister Abbas Araqchi said Tehran is willing to discuss transit with Japan and others that have not attacked it . By Rithika Krishna Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Iran says ready to discuss Hormuz passage with Japan

26/03/21
26/03/21

Iran says ready to discuss Hormuz passage with Japan

London, 21 March (Argus) — Tehran is ready to discuss passage through the strait of Hormuz with Japan and other countries that have not attacked Iran, Iranian foreign minister Abbas Araqchi has told Japan's Kyodo News, according to a post on his Telegram channel. "We have not closed this strait," Araqchi said. "From our perspective, the strait is open. It is closed only to the ships of our enemies — the countries that are attacking us. For other countries, ships can pass through the strait. Of course, there is a security issue. We are ready, if contacted, to provide safe passage for them. We will talk with them to find a way to ensure safe transit. We are prepared to provide safe passage. They only need to contact us so that we can discuss how this route can be arranged." Araqchi added that he "certainly" meant Japan when referring to countries whose ships could pass through the strait. Japanese shipowners maintain some of the world's strictest safety standards and were among the first to halt operations in the Mideast Gulf when the war began at the end of February, as well as in the Red Sea when attacks on shipping by Yemen's Houthi rebels started in 2023. In an earlier interview on 15 March with CBS' Face the Nation, Araqchi said Tehran had been approached by "a number of countries" seeking safe passage through the strait. "This is up to our military to decide," he said. In practice, most tankers that have transited the strait in recent weeks have been Iranian. The 296,068 dwt Cuma left the Mideast Gulf fully laden and is signalling China as its destination, according to trade analytics platform Vortexa. It is unclear when the vessel crossed the strait, but its current position suggests it departed Iran after the US–Israeli strikes on 28 February . The 317,534 dwt Stream (Kharg Island–Ningbo), the 317,536 dwt Serena (Kharg Island–Dongjiakou), and the 298,414 dwt Nora (Kharg Island–Ningbo) have also recently passed Hormuz laden with Iranian crude, Vortexa data show. Late on Friday, the US issued a sanctions waiver for Iranian crude , including crude aboard sanctioned vessels, allowing the sale, delivery and offloading of Iranian oil loaded on or before 20 March until 19 April. As most other Mideast Gulf crude shipments remain unable to pass through the strait, Asian buyers are increasingly turning to another recently issued OFAC waiver covering Russian crude . The first Russian cargo since 2021 departed for the Philippines earlier this week. The 115,191 dwt Sara Sky left Kozmino on 16 March carrying Espo Blend crude and is expected to arrive in Bataan on 23 March, according to Kpler and Vortexa. A second Espo cargo left Kozmino for Bataan on 17 March aboard the 109,672 dwt Tiger Wings , although Vortexa notes that Bataan is listed only as a "declared destination". By Andrey Telegin Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Gulf producers urge US to tackle Hormuz closure head-on

26/03/21
26/03/21

Gulf producers urge US to tackle Hormuz closure head-on

Dubai, 21 March (Argus) — Mideast Gulf oil producers are urging the US to address the disruption to oil flows through the strait of Hormuz "straight on", warning that interim measures such as tapping into Iran's so-called "oil-on-water" risk strengthening Tehran's position while leaving regional producers exposed, senior Gulf officials have told Argus. "The issue is not supply. The 140mn bl figure discussed by US officials on oil-on-water does not indicate the full picture," one senior Gulf official said. "Oil-on-water today includes production from Saudi Arabia, the UAE, Kuwait and Iraq, as well as from our western oil company partners in joint ventures, loaded on tankers stuck within the strait." The US Treasury Department's sanctions enforcement arm, the Office of Foreign Assets Control (OFAC), issued a licence late on Friday allowing the sale, delivery and offloading of Iranian crude loaded into tankers on or before 20 March, until 19 April. The OFAC licence also allows the import of Iranian crude into the US for further resale. There are no conditions attached to payments for such cargoes. US Treasury Secretary Scott Bessent estimated on 19 March there were 140mn barrels of Iranian oil at sea , without providing further detail. These US efforts to stabilise markets by leaning on floating storage volumes are viewed in Mideast Gulf capitals as a temporary fix, senior Gulf officials said, that fails to address directly the core issue — the effective disruption of the world's most critical energy transit chokepoint. Gulf officials warned that such measures risk creating an uneven dynamic in which Iranian crude continues to flow — primarily to China — while exports from US-aligned Gulf producers remain constrained. "China is the most obvious buyer of Iranian crude, but what about Japan, or South Korea — our buyers and US allies?" the senior Gulf official asked, noting that interdicting Iranian flows is not straightforward and that Tehran has developed sufficient mechanisms to bypass sanctions and retain access to revenues. A second senior Gulf official said producers in the region cannot accept an outcome where "Iran takes the strait of Hormuz hostage," describing such a scenario as a structural shift in global energy markets. Gulf capitals are increasingly concerned that Washington could move to wind down the conflict before securing a durable resolution on maritime access, leaving Iran with de facto control over traffic through the strait. "Nobody in the Mideast Gulf asked for this war, but now that we find ourselves in the midst of it, the US should sort this out," the first official said. "The US should finish the job and not forget about its allies in the region," both officials said separately. US president Donald Trump said late on Friday that he has no plans to end the war quickly, telling reporters that "you don't do a ceasefire when you're obliterating the other side." But he also signalled that Washington is "very close" to achieving key military objectives as it considers winding down operations — messaging that has added to unease in Gulf capitals. The comments follow a week of the most extensive damage yet to energy infrastructure across the Mideast Gulf. For Mideast Gulf officials, reopening the strait of Hormuz remains the only viable path to restoring market balance and preventing Iran from exerting sustained influence over global oil prices. "The US needs to find a solution, and it is faced with three options," the first Gulf official said. "A compromise with Iran over freedom of passage, alignment with Iran's dictates, or the use of force." Concern in Gulf capitals is growing, and an outcome in which Iran exercises control over the strait of Hormuz is creating a perception that they have been left behind. This, in turn, could complicate relations between the US and its regional allies, the senior Gulf officials said. By Bachar Halabi Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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