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Half-year after Hormuz closure, trade drops 85%
Six months after the closure of the Strait of Hormuz amid escalating conflict in the Middle East, maritime vessel traffic has dropped sharply by up to 85%. Previously, around 95 ships navigated through the strait daily before the closure, but this has fallen to an average of just 10 ships per day during Iran's occupation of the strait. This situation has led to the halt of a significant portion of global oil and natural gas exports, which previously accounted for about one-fifth of the total exports passing through this strategic route. Since Iran’s closure of the strait at the start of the escalation in early March, there has been a severe decline in shipping activity, with alternate routes remaining undefined or closed due to mines and jamming. Consequently, thousands of sailors and dozens of ships are stranded in the area. Currently, international discussions are underway to establish safe corridors if tensions ease, but the situation remains unstable, with negotiations repeatedly stalling and increasing risks to lives and global trade.
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