Several tanker owners, oil majors, and trading houses have suspended shipments of crude oil, fuel, and liquefied natural gas (LNG) through the Strait of Hormuz after the U.S. and Israel attacked Iran. Tehran announced it had closed navigation, according to trading sources.
A top executive at a major trading desk said, “Our ships will stay put for several days.” Satellite images from tanker trackers showed vessels backed up near major ports, including Fujairah in the United Arab Emirates, unable to move through Hormuz.
Multiple vessels in the area received VHF transmissions from Iran’s Revolutionary Guards stating that “no ship is allowed to pass the Strait of Hormuz,” an official with the EU naval mission Aspides told Reuters.
The British Navy said Iran’s orders are not legally binding and advised vessels to transit with caution. Shipbroker Poten & Partners noted that while vessel traffic through the Strait has not completely stopped, disruptions are rapidly increasing.
The tanker association INTERTANKO reported that the U.S. Navy warned against navigation across the Gulf, Gulf of Oman, North Arabian Sea, and the Strait of Hormuz, citing safety risks for shipping. Greece’s shipping ministry also advised vessels to avoid the Persian Gulf, the Gulf of Oman, and the Strait.
Approximately 20% of global oil, including supplies from Saudi Arabia, the UAE, Iraq, Kuwait, and Iran, passes through the Strait of Hormuz, along with large volumes of LNG from Qatar. Fourteen LNG tankers have slowed, turned back, or stopped near the Strait, and this number may rise, posing risks to Qatari LNG exports, according to Laura Page of consultancy Kpler.
German container shipping group Hapag-Lloyd announced it is suspending all vessel transit through the Strait until further notice, warning of potential delays or rerouting for services calling at Gulf ports. Denmark’s Maersk stated it is coordinating with security partners in the Red Sea and Gulf of Aden, but cargo acceptance in the Middle East remains open. French shipping group CMA CGM instructed vessels inside or headed for the Gulf to proceed to shelter following the attacks by the United States and Israel.
