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Timelapse Shows Global Ship Traffic in Hormuz Strait Under Iran Threat
Timelapse Shows Global Ship Traffic in Hormuz Strait Under Iran Threat

Newsweek

time12 hours ago

  • Business
  • Newsweek

Timelapse Shows Global Ship Traffic in Hormuz Strait Under Iran Threat

Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Global shipping companies and businesses are closely monitoring developments around the Strait of Hormuz, after Iranian threats to disrupt shipping following the U.S. strikes on its nuclear sites in its "Operation Midnight Hammer" The U.S. warned Iran that any move to shut the Strait would be "economic suicide" and trigger a severe response. Why It Matters The Strait of Hormuz matters enormously because it channels roughly one‑fifth to one‑quarter of the world's oil supply, serving as a critical artery for global energy markets—with international navigation already affected by Iran's proxy Houthi group disruptions in the Red Sea. The aircraft carrier USS Abraham Lincoln (CVN 72), left, the Royal Navy air defense destroyer HMS Defender (D 36) and the guided-missile destroyer USS Farragut (DDG 99) transit the Strait of Hormuz on November 19,... The aircraft carrier USS Abraham Lincoln (CVN 72), left, the Royal Navy air defense destroyer HMS Defender (D 36) and the guided-missile destroyer USS Farragut (DDG 99) transit the Strait of Hormuz on November 19, 2019. More Zachary Pearson- U.S. Navy/Getty Images Disruption of the strait would not only send global oil and gas prices surging but would also threaten economic stability in the U.S. and China, with global costly implications for commercial vessels too. Iran's threats to block it raises urgent alarms from governments and markets. What To Know On Monday, two Japanese shipping companies said they had directed their vessels to limit time spent in the Gulf while continuing transits through the Strait of Hormuz, according to Reuters. On Sunday, two supertankers—each carrying up to 2 million barrels—turned back in the Strait of Hormuz after U.S. airstrikes on three Iranian nuclear sites raised fears of commercial shipping being targeted, Bloomberg reported. Asian markets are likely to be the most affected by supply disruptions at Hormuz. The U.S. Energy Administration Information (EIA) estimates that China, India, Japan, and South Korea accounted for 69% of all Hormuz crude oil and condensate flows in 2024. As for the U.S., about 7% of its crude oil and condensate imports and 2% of its petroleum liquids consumption came through the Strait of Hormuz. Iran cannot completely "close" the Strait under international law on maritime passage but could impose restrictions on its northern shore and step up mine and missile threats to vessels. What People Are Saying Chinese Foreign Ministry spokesperson Guo Jiakun: "The Persian Gulf and its adjacent waters are important corridors for international trade in goods and energy, and it is in the common interest of the international community to maintain security and stability in the region. China calls on the international community to step up its efforts to promote de-escalation of the conflict and to prevent regional instability from having a greater impact on global economic development." Japan's Nippon Yusen shipping company spokesperson told Reuters: "We will make decisions on each vessel's passage through the Strait of Hormuz on a flexible basis." Sajith Marakar, Managing Director of Consolidated Bureau, an Abu Dhabi-based marine survey and inspection company told Gulf News: "If declared a war zone, cargo insurers and P&I (Protection & Indemnity) Clubs for shipping vessels may refuse to cover the risk, halting vessel operations." U.S. Secretary of State Marco Rubio told Fox Business Sunday Morning Futures: "Well, I would encourage the Chinese Government in Beijing to call them about that, because they heavily depend on the Straits of Hormuz for their oil. If they do that, it'll be another terrible mistake. It's economic suicide for them if they do it. And we retain options to deal with that." What Happens Next Iran may need to consider an approach that would not harm its allies while responding to U.S. and Israeli attacks.

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