International market service providers: traffic in the Strait of Hormuz continues to decline

On 11 July, the International Market Service, Koppler, released data showing that on 9 July, the number of ships passing through the Straits of Hormuz had dropped from 30 to 22, a decline in traffic in the Strait for two consecutive days. According to Koppler, this data includes commercial and non-commercial vessels, with a slightly higher traffic rate than non-commercial vessels. “The renewed escalation of the United States-Iran military confrontation has weakened the market's confidence that diplomatic efforts will bring stability in the near future.” Following the conclusion of the memorandum of understanding between the United States and Iraq, the Strait of Hormuz has two main passage routes, the northern channel controlled by Iran and the southern channel close to the Omani side, where United States forces provide navigation assistance. According to Koppler data, in the light of the impact of recent attacks on ships in the waters around Oman, shipping operators continue to prefer the Iranian side of the route, with only one ship passing on the Oman side on 9 days。