Shipping Traffic Through Strait of Hormuz Rises After U.S.-Iran Deal

Shipping traffic through the Strait of Hormuz increased in the week after the U.S. and Iran signed an interim peace deal, CNBC reported. Between June 15 and 21, 125 transits were recorded, the highest weekly total since the war began in late February.

On June 24, AXS Marine counted 62 commercial vessel crossings, the highest single-day figure since fighting started, though that volume equaled only 53 percent of traffic on the same day last year. Oil tankers and cargo vessels remained anchored off Oman after congestion at Port Sultan Qaboos prevented docking on June 23.

The Islamic Revolutionary Guard Corps declared on Wednesday that all ships must use only its northern route and follow Iranian routing instructions.

Hours later, the Singapore-flagged Evergreen container ship Ever Lovely was struck on its starboard side by a projectile off the Omani coast, the first such attack on a cargo vessel since the ceasefire took effect. An official said the IRGC carried out the strike. The United Nations agency paused its Hormuz ship evacuation plan after the incident.

The standard pre-war commercial lane remains closed due to mines, leaving shipowners to choose between a northern corridor under Iranian control and a southern passage through Omani waters where the U.S. Navy provides oversight. "Until there is a more concrete set of guidelines on safe navigation, people are going to be very reticent to go through," Tim Huxley, CEO of Mandarin Shipping, said.

Aristidis Alafouzos, CEO of Okeanis Eco Tankers Corp, told CNBC that he does not expect the attack to change the recent rise in crude oil passages. Bruce Tan, a Singapore-based electronics manufacturer, said he had resumed moving goods through the corridor but only in small batches while routing some orders through alternative paths as a hedge.