Euro Times – London
Container shipping through the Strait of Hormuz has fallen by about 94% since the war began, even as some oil tanker traffic has returned to the waterway under US protection.
According to a Financial Times report citing maritime analytics firm Xeneta, 240 container ships travelled into the Gulf between March 1 and September 7, compared with 4,198 vessels during the same period a year earlier.
Before the crisis, 99 container services operated in or transited into the Gulf, representing about 10% of the global container fleet. Only 11 remain active: 10 shuttle between Gulf ports and one operates a dedicated Iran-China service.
The disruption extends far beyond oil. Kpler data cited by the newspaper show limestone shipments through the strait fell from 2.93 million tonnes in January to zero in August. Sulphur fell from 1.45 million tonnes to 120,000 tonnes, nitrogen fertiliser from 1.1 million tonnes to 340,000 tonnes and corn from 1.74 million tonnes to 310,000 tonnes.
Major hubs including Dubai’s Jebel Ali port have seen reduced activity, while alternative facilities at Khor Fakkan and in Oman are under pressure from redirected cargo.
Companies are increasingly using overland routes or transshipment through ports in India and Sri Lanka, increasing costs and delivery times. One business shipping between China and the UAE told the FT that the cost of a 40-foot container had risen to as much as $10,000 for much of the year, from $1,250 before the Hormuz disruption, while typical transit times had doubled to about 60 days.
The figures underline a growing split in Hormuz traffic: oil tankers have partially returned under US military protection, while container and bulk cargo trade remains severely depressed because of security risks, insurance premiums and operating costs.
Source: Financial Times.
