Strait of Hormuz remains eerily quiet as doubts hang over fragile peace deal
South China Morning Post reports that the Strait of Hormuz was largely empty in the hours following the announcement of a US-Iran peace deal, with MarineTraffic data showing the only vessel moving in the strait on Monday morning was broadcasting its status as a patrol ship. Hundreds of commercial ships remain held back in the region. Analysts say it is still unclear when normal flows will restart, given mine-clearance and risk-premium uncertainties.
The South China Morning Post wrote, citing live MarineTraffic data, that the Strait of Hormuz has remained markedly quieter than expected after the announcement of a US-Iran framework agreement. On Monday morning the only vessel moving in the strait was a military unit broadcasting a patrol status. Hundreds of commercial ships remain at anchorages or in nearby ports across the region, and many are asking insurers for fresh transit clearance.
The paper reported that war-risk insurance premiums have eased back from the elevated levels of the past three weeks but still sit well above pre-conflict marks. Analysts at Kpler said large tankers are unlikely to return until there is operational confirmation that the strait is safe for transit. US and Gulf state forces are expected to mount coordinated mine-clearance and navigation-safety assessments in the area.
The situation matters for major Asian energy importers including India, China, Japan and South Korea, who together take the bulk of Gulf crude. Inventories have drawn down sharply over the past three weeks, and renegotiations of LNG contracts are under active discussion. This is not investment advice.
Read next
Israeli cyber firm accused of targeting First Minister during election campaign
Scotland's First Minister has called for an investigation after evidence emerged that an Israeli cyber-intelligence firm allegedly targeted her official phone during the recent election campaign. Police Scotland and the Scottish Parliament have opened parallel inquiries. The firm denied the allegations and said its technology is licensed only to states.
Unclear whether US-Iran agreement will provide respite to Lebanon
Australian private schoolboy faces court over alleged plot to attack LNP
Australian Federal Police opens inquiry into allegations Israeli forces assaulted flotilla activists
Australia demands answers after girl taken hostage is shot dead by Pakistan police
