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Vessel traffic through the Strait of Hormuz remained subdued over the weekend despite renewed diplomatic efforts to ease tensions in the Gulf, while fresh security incidents near Oman continued to weigh on shipping activity, according to an S&P Global report.
The report, said only 17 vessel crossings were recorded through the Strait of Hormuz on August 2, 15 on August 1 and 17 on July 31. Traffic through the Bab el-Mandeb Strait also weakened during the same period, falling to fewer than 40 observable transits per day. S&P Global said a total of 848 vessel transits were recorded through the Strait of Hormuz in July, averaging 27 crossings a day. However, activity slowed significantly in the second half of the month, when daily transits dropped to an average of 17 after the memorandum of understanding underpinning the peace agreement collapsed and retaliatory attacks between the United States and Iran intensified. "Traffic remained depressed despite US President Donald Trump's assertion that a deal was 'imminent' amid renewed diplomatic efforts, as well as reports of Oman and Iran agreeing to jointly manage traffic through the strait," the report said. July traffic declined from 917 transits in June, which had marked the highest monthly volume since the start of the conflict. Inbound traffic accounted for 48 per cent of total crossings in July, compared with 46 per cent in June, while Iran-linked vessels increased to 53 per cent of total traffic from an average of 42 per cent in June. Security risks in the region also persisted. According to S&P Global Commodities at Sea data, 10 crude tankers carrying Iraqi crude successfully exited the Strait of Hormuz during July, transporting around 648,000 barrels per day, down 27 per cent from 883,000 barrels per day in June. The report also observed that traffic through the US naval blockade remained largely stable. "An average of 41 vessels per day crossed the US blockade for the week ending August 2, slightly lower than the 46 per day in the week prior," it said, while only around two non-compliant vessels per day managed to breach the blockade during the same period. Meanwhile, traffic through the Bab el-Mandeb Strait totalled 1,298 transits in July, averaging 42 crossings per day, broadly unchanged from June. However, northbound traffic weakened sharply in recent days. "Northbound traffic was particularly weak, dropping to just 10 vessels on August 2, the lowest daily count since May 26. The decline may point to either weaker vessel traffic or an increase in AIS-dark activity amid ongoing security concerns," the report added. (ANI)
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