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Traffic through the Strait of Hormuz has fallen to its lowest level since July 23 amid continued attacks on shipping, as tanker captains are offered base pay of up to $100,000 plus $50,000 per transit. Roughly 16.5 million barrels of oil still left the region last month, much of it via Saudi Arabia's East-West pipeline or covert ship-to-ship transfers.
Traffic through the Strait of Hormuz has plummeted by more than 95% six months after US-Israeli military operations against Iran, from over 100 ships daily to roughly five. The closure has disrupted global energy flows, with Gulf crude exports down nearly half and shipping routes being redrawn worldwide.
US President Donald Trump claims all mines have been cleared from the Strait of Hormuz, but Iran disputes this and analysts warn the waterway remains high-risk. Mines are just one of several threats, including drones and missiles, and war-risk insurance premiums remain elevated.
South Korea has launched its first commercial container ship voyage through the Arctic route, departing from Busan to test the Northern Sea Route as a viable alternative amid Middle East tensions. The 40-45 day journey aims to reduce travel time and distance, but faces environmental and geopolitical concerns.
Japan, a key maritime power and UN shipping climate negotiator, is urged to recalibrate its strategy after recent diplomatic failures weakened its leadership. Experts call for concrete proposals on carbon pricing, technology transfer, and stronger ties with emerging economies to restore its pioneering role in the IMO's green transition.
The Panama Canal Authority will cut daily ship transits from early September due to low water levels from El Niño. The restriction could affect global shipping and raise transport costs.
Analysis of maritime data shows that while most ships transiting the Strait of Hormuz switch off their tracking systems, a significant number openly use the Iranian corridor. This suggests shipowners fear Iran more than the US, despite American naval superiority.
A cargo vessel was hit by an 'unknown object' in the Strait of Hormuz, causing engine room damage and one crew injury, UKMTO said. The incident underscores ongoing disruptions to shipping in the strategic waterway, with traffic at a fraction of pre-conflict levels.
Eight major global shipping associations have urged UN leaders to reject proposed tolls at the Strait of Hormuz, saying they would violate international law and harm global trade. The groups warn such fees could raise energy prices, fuel inflation, and undermine livelihoods worldwide.
