Despite optimistic statements from US officials about early trade recovery, real data from Kpler and Signal Ocean show a completely opposite picture.
Ship operating units are in a state of waiting to assess security risks and soaring insurance costs. Instead of traveling, hundreds of oil tankers are anchored in the Gulf, turning this area into a giant "floating storage" as major routes are almost paralyzed.
Among the few adventurous ships crossing the strait recently, the most notable is the Suezmax Shenlong owned by Dynacom Tankers (Greece). This is a rare international commercial ship that still maintains its route amidst a storm of fire.
Next is the chemical ship Parimal flying the Palau flag; although not yet officially sanctioned, this ship has a history associated with fuel shipments from Iran.
The third ship is Dalia, flying the Iranian flag, which is already on the sanctions list of the Foreign Assets Administration (OFAC) of the US Treasury Department.
As of March 9, reports recorded about 122 crude oil tankers and 292 oil product tankers waiting in bays in the Middle East region. Although international maritime insurance associations affirm that they still provide conflict risk insurance packages, the direct threat from drones and missiles makes ship owners extremely cautious. Many ships, after unloading goods, have chosen to stay offshore instead of departing immediately to wait for safer route options.
This breakdown forces the global energy market to adapt to a harsh security environment. Although the transportation corridor is still open in theory, actual activity is expected to continue to remain at a record low.
The withdrawal of international merchant ships has left a large gap, making the Hoarmuz Strait currently almost only the operating area of fleets with special connections to the conflict zone.
These fluctuations not only push world oil prices into a spiral of instability but also force major powers to redefine the international maritime security map.
