Strait of Hormuz Ship Traffic Plummets Amid Iran's Control and Proposed Tolls
Ship Traffic Through Strait Of Hormuz Below 10% Of Normal Despite US-Iran Ceasefire
News 18
Image: News 18
Ship traffic through the Strait of Hormuz is currently under 10% of normal levels, with only seven vessels passing in the last 24 hours. Iran's Islamic Revolutionary Guard Corps is directing ships through its waters and may implement tolls, potentially in cryptocurrency, despite a fragile ceasefire.
- 01Ship traffic through the Strait of Hormuz is below 10% of normal levels.
- 02Iran is directing vessels through its territorial waters, raising security concerns.
- 03Proposed tolls for transit could reach $2 million per vessel, payable in cryptocurrency.
- 04The UN's International Maritime Organization warns against such tolls, citing a lack of international agreements.
- 05Global oil supply has been reduced by 20% since the conflict began.
Advertisement
In-Article Ad
Ship traffic through the Strait of Hormuz, a crucial oil transit route, has drastically fallen to below 10% of normal levels, with only seven vessels passing in the last 24 hours, compared to the typical daily flow of around 140. The situation arises as Iran's Islamic Revolutionary Guard Corps (IRGC) has taken control of the strait, directing vessels to navigate through its own waters near Larak Island to avoid naval mines. This has raised significant security concerns, particularly for ships associated with the United States or Israel, which face risks of being turned back. Additionally, reports indicate that Iran may impose a transit toll of up to $2 million per vessel, potentially demanding payments in cryptocurrency, a move criticized by the UN's International Maritime Organization as it could set a dangerous precedent for international shipping. Since the onset of the conflict on February 28, global oil supply has been cut by 20%, leaving many tankers stranded in the Gulf.
Advertisement
In-Article Ad
The reduced ship traffic and potential tolls could lead to increased shipping costs and further disruptions in global oil supply, affecting consumers and economies reliant on oil imports.
Advertisement
In-Article Ad
Reader Poll
Do you support the implementation of tolls for ships passing through the Strait of Hormuz?
Connecting to poll...
More about International Maritime Organization
Read the original article
Visit the source for the complete story.



