Kepler: Navigation Drops at Bab al-Mandeb and Hormuz
Maritime shipping activity through the Bab el-Mandeb and Strait of Hormuz has experienced a sharp decline to its lowest levels in several months, due to security tensions in the region. The number of ships passing through in the past twenty-four hours dropped to fewer than 11 vessels, most of which are oil tankers carrying shipments of up to two million barrels, reflecting the impact of attacks on vessels in the Red Sea. Additionally, maritime traffic through the Strait of Hormuz registered low levels, fewer than 10 ships daily over the weekend, amid concerns about the tensions affecting oil and natural gas flows, as well as the potential increase in shipping costs and voyage durations. Such disruptions could significantly harm international trade and energy markets. These two straits are among the most vital routes for oil and gas trade, and any decline in traffic could lead to disruptions in global supply chains and rising energy prices.
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