Shipping activity through the Strait of Hormuz remained sharply subdued going into August, with vessel crossings falling well below July’s average as fresh maritime incidents near Oman, renewed US-Iran tensions and security risks continued to weigh on one of the world’s most critical energy corridors.
Strait of Hormuz shipping activity remained subdued going into August as fresh security incidents near Oman and continued geopolitical tensions kept vessel traffic through the crucial energy corridor under pressure, according to an S&P Global Market Impact Report dated August 3.
Only 17 vessel crossings were recorded through the Strait of Hormuz on August 2, following 15 on August 1 and 17 on July 31, according to S&P Global MINT and Commodities at Sea data.
The latest figures mark a sharp slowdown from July, when 848 vessel transits were recorded through the strait, averaging 27 crossings a day. Traffic weakened significantly during the second half of July, with the daily average dropping to 17 as the memorandum of understanding underpinning the peace agreement collapsed and the US and Iran stepped up retaliatory attacks.
July traffic was also lower than the 917 transits recorded in June, the highest monthly total since the beginning of the war.
The composition of traffic through Hormuz also shifted during July. Inbound vessels accounted for 48 per cent of crossings, up from 46 per cent in June, while Iran-linked vessels represented 53 per cent of total traffic, compared with an average of 42 per cent in June.
The slowdown persisted despite US President Donald Trump saying a deal was “imminent” amid renewed diplomatic efforts and reports that Oman and Iran had agreed to jointly manage traffic through the strait.
More from BusinessSecurity risks, however, remain elevated. The UK Maritime Trade Operations centre reported three incidents in recent days. In one incident, the LNG carrier GASLOG SHANGHAI was struck by an unidentified projectile about 11 nautical miles off Lima, Oman, damaging its engine room.
Another vessel reported a large splash and an explosion nearby around 21 nautical miles northeast of Khasab, Oman. Both incidents were reported late on July 31.
A third incident was reported on August 2, when the master of a tanker heard an explosion close to the vessel around 20 nautical miles northeast of Khasab.
GASLOG SHANGHAI was travelling outbound through Hormuz after loading at Qatar’s Ras Laffan on July 28.
Several major crude tankers have nevertheless continued moving through the region. The VLCC KIKU, which had been targeted in an attack off Oman on July 27, remained active after loading Qatar crude in late July and was subsequently anchored off Fujairah.
The Hong Kong, China-flagged VLCC NOBLE, carrying 2 million barrels of Basrah Heavy crude, exited Iranian territorial waters on July 31 with its transponder switched on. Suezmax tanker LUCIA A followed on August 1 carrying 1 million barrels of Basrah Medium.
Iraqi crude movements through Hormuz have also weakened. Ten crude tankers carrying Iraqi oil successfully exited the strait during July, translating into flows of about 648,000 barrels per day. That was down 27 per cent from 883,000 barrels per day in June, according to S&P Global Commodities at Sea data.
Meanwhile, compliant vessel movements through the US naval blockade remained relatively steady. An average of 41 vessels per day crossed the blockade in the week ending August 2, compared with 46 per day during the previous week.
Non-compliant traffic remained much smaller. An average of two such vessels per day successfully passed through the blockade during the week ending August 2, unchanged from the previous week. S&P Global defines non-compliant vessels as those under US OFAC sanctions, carrying Iranian or false-flag status, or having called at an Iranian port during 2026.
Four oil and LPG tankers were reported to have breached the blockade over the latest three-day period, including the OFAC-sanctioned crude tanker RIESCO and false-flag tankers MURLIKISHAN and BERBERA STAR 7.
Shipping weakness was not limited to Hormuz. Traffic through the Bab el-Mandeb Strait totalled 1,298 crossings in July, averaging 42 per day, broadly unchanged from 43 in June.
Activity weakened at the start of August, however, with 38 transits on July 31, 30 on August 1 and 32 on August 2. Northbound traffic dropped to just 10 vessels on August 2, the lowest daily count since May 26.
S&P Global said the decline could reflect either weaker vessel traffic or an increase in vessels operating without visible Automatic Identification System signals amid persistent security concerns.
