Oil tankers from the UAE, Qatar, and Kuwait have been passing through the Strait of Hormuz with their transponders turned off for several months, a Bloomberg report highlighted. This secret shipping activity is one factor helping to keep energy prices in check despite ongoing tensions in the region, according to livemint.com.
Ship-tracking data from Kpler showed that shipping through the Strait of Hormuz slowed significantly over the weekend following attacks on tankers. On Saturday, only five commodity vessels transited the strait, and none were registered on Sunday, compared to 31 vessels the previous weekend. Meanwhile, talks between the United States and Iran to resolve the Middle East conflict have stalled, further complicating the situation, livemint.com reported.
The Strait of Hormuz is a critical chokepoint for global oil shipments, with a significant portion of the world's oil passing through it. The secretive movement of tankers with transponders off suggests efforts by Middle Eastern producers to maintain supply flows amid geopolitical risks. This activity contrasts with the recent slowdown in shipping due to tanker attacks, underscoring the fragile balance in the region’s energy logistics, according to livemint.com.
The latest data from Kpler confirms a sharp decline in vessel transits over the weekend, reflecting heightened security concerns. Five vessels passed on Saturday, none on Sunday, compared to 31 the prior weekend, marking a notable disruption in shipping patterns through the Strait of Hormuz, livemint.com stated.