02.03.2026 18:04
Alarm bells are ringing in the Strait of Hormuz, one of the most critical transition points in global energy markets. With the escalation of military activity in the region, the passage of oil and LNG tankers has largely come to a halt. As shipowners suspend their routes due to increased security risks and a spike in insurance costs, over 700 tankers have begun to wait on the eastern and western shores of the Strait. This situation indicates a serious bottleneck in the narrow corridor through which one-fifth of the world's oil supply passes.
The rising tensions in the Middle East have nearly brought tanker traffic to a standstill in the Strait of Hormuz, the heart of global energy flow. With security risks reaching their highest level, ships carrying oil and LNG have suspended their passages. Recent data shows that over 700 tankers are waiting on both sides of the Strait.
The Strait of Hormuz, which serves as the gateway to the Persian Gulf, transports oil and liquefied natural gas from the region to global markets via the Oman Sea and the Indian Ocean. Approximately 20% of daily global oil consumption — around 20 million barrels of crude oil and products — passes through this narrow strait. A significant portion of shipments, particularly from Saudi Arabia, the UAE, Iraq, Kuwait, and Iran, is headed to Asian countries such as China, India, Japan, and South Korea.
TRANSITS HAVE DROPPED SHARPLY
According to an analysis by real-time data analytics company Kpler, on February 27, 15 tankers transported 21 million barrels of crude oil and petroleum products from Hormuz. On February 28, this figure rose to 18 ships and 21.6 million barrels.
However, as tensions escalated rapidly, the situation changed dramatically.
On March 1, only 3 tankers were able to pass through the Strait. The total amount transported remained at 2.8 million barrels. It was reported that one of the tankers was carrying approximately 2 million barrels of crude oil.
Considering that shipments have been averaging 19.8 million barrels per day since the beginning of the year, it was calculated that exports dropped by 86% compared to the daily average on March 1.
Experts assess that there was a trend of quickly unloading cargoes before tensions increased, but with the worsening conditions, transits have effectively come to a halt.
706 TANKERS WAITING
As of today, 706 non-Iranian flagged tankers are waiting on the western and eastern shores of the Strait of Hormuz.
334 crude oil tankers,
109 dirty petroleum product tankers,
263 clean petroleum product tankers.
These ships are anchored at various points in the Arabian Gulf, Oman Gulf, and Arabian Sea.
While oil loadings continue within the Gulf, ships are forced to wait longer to pass through the narrow strait due to a decrease in eastbound exits. This situation is expected to lead to delays in deliveries and significant increases in freight costs.
CLAIM THAT "NO SHIP IS ALLOWED TO PASS"
Following the attacks initiated by the US and Israel against Iran over the weekend, there have been claims that the Iranian Revolutionary Guards conveyed the message "No ship is allowed to pass" to vessels intending to transit through Hormuz.
It has been suggested that these messages were transmitted to ships operating in the Persian Gulf via the international calling channel VHF Channel 16. However, there has been no direct statement from official authorities regarding the closure of the Strait. Iranian media, on the other hand, claimed that the Strait has effectively been closed.
While some container ships were observed making U-turns as they approached Hormuz, leading global container shipping companies have temporarily suspended transits.
Meanwhile, the UK Maritime Trade Organization (UKMTO) announced that it has raised the maritime security risk level in the Strait of Hormuz to the highest level, "critical," following the confirmation of attacks on commercial vessels in the Oman Gulf, around Musandam, and in UAE territorial waters.
These developments in the Strait of Hormuz, which is vital for global energy markets, are seen as a sign of a process that could exert serious pressure on oil prices and supply chains.