Only Five Cargo Ships Pass Through Strait of Hormuz

Only five cargo ships carrying commodities passed through the Strait of Hormuz on Tuesday, up from four on Monday but well below the 10-day average of 15, according to preliminary data from Kpler.

Two tankers carrying liquefied petroleum gas and another carrying bitumen sailed out of the Persian Gulf. In the opposite direction, two empty product tankers entered from the Gulf of Oman. The final figures could change, as some vessels switch off their tracking transponders while in transit.

Meanwhile, 31 cargo ships passed through the Bab al-Mandab Strait, up from 29 a day earlier and broadly in line with the 10-day average.

Iran has also resumed talks with Oman over the management of the Strait of Hormuz. The two countries discussed establishing a temporary joint shipping corridor and agreed to clear mines from the waterway.

ING Economics cautioned that the agreement alone would not be enough to restore normal oil flows. According to its analysts, the US would first need to lift its blockade of Iranian ports and ease sanctions on Tehran.

(Reuters, Lud)