Business News | Vessel Traffic Through Hormuz, Bab El-Mandeb Straits Remains Stable: Report
Get latest articles and stories on Business at LatestLY. Vessel traffic through the strategically important Bab el-Mandeb and Strait of Hormuz remained broadly stable on July 27, with 32 and 15 vessel crossings respectively, according to S&P Global.
New Delhi [India], July 29 (ANI): Vessel traffic through the strategically important Bab el-Mandeb and Strait of Hormuz remained broadly stable on July 27, with 32 and 15 vessel crossings respectively, according to S&P Global.
Traffic through the Bab el-Mandeb Strait was around three-quarters of the average daily transit volume recorded during June and the first half of July. Of the 32 vessels crossing the strait, 11, or about 34 per cent, moved northbound into the Red Sea, while 21 sailed southbound towards Djibouti and the Gulf of Aden.
Most northbound vessels were transiting the Red Sea towards the Suez Canal, Egypt or Jordan. Among the southbound vessels, eight had previously called at Saudi Arabia's Red Sea ports, while the remaining ships originated from Egypt or Jordan or had transited the Suez Canal from the Mediterranean and Europe.
The southbound traffic included six tankers carrying Russia-origin oil cargoes. S&P Global also highlighted the movement of the VLCC NEW PEARL, operated by China Merchants Energy Shipping subsidiary AMCL. The vessel loaded around 2 million barrels of Saudi crude at Yanbu on July 25 and was heading through the Gulf of Aden towards Zhoushan.
The report noted that heightened security risks in the Red Sea may be creating a new outlet for very large crude carriers (VLCCs) operating in the Mediterranean. Three VLCCs linked to DHT Holdings were heading north towards Ain Sukhna and the Suez Canal after loading crude at Yanbu.
At the Strait of Hormuz, 15 vessel transits were recorded on July 27, including five vessels that were not transmitting visible automatic identification system (AIS) signals. Eight vessels moved inbound into the Gulf, while seven crossed outbound towards the Gulf of Oman.
The vessels crossing Hormuz included landing craft, bulk carriers, cargo ships, product tankers, a VLCC and a Suezmax. S&P Global said five vessels were assessed as compliant.
Meanwhile, an estimated 47 million barrels of Iranian crude are currently being held aboard tankers in the Middle East Gulf, although the estimate remains uncertain because only around 20 per cent of the tankers are currently visible.
The estimated volume represents a sharp increase from less than 30 million barrels in mid-July, pointing to a growing accumulation of Iranian crude aboard vessels in the region. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)