1,900 vessels stranded in Strait of Hormuz as Iran blocks US, Israeli-linked ships

Around 1,900 commercial vessels have been stranded in the Strait of Hormuz, primarily in the Persian Gulf, since the start of the US and Israeli attacks against Iran on Feb. 28. Following the beginning of the attacks, Tehran effectively closed the vital waterway to vessels linked to the attacking countries, bringing maritime traffic in the strait to a standstill. Vessels in the region, preparing to transit through the strait, were unable to do so due to military tensions, with most of the stranded ships dropping anchors in open waters.

Iran's new rules

Tehran said vessels from countries other than the US and Israel could transit through the Strait of Hormuz so long as they do not participate in or support the aggression against Iran and fully comply with security and safety regulations. Ebrahim Zolfaqari, spokesperson for the unified command of Iran's armed forces, Khatam al-Anbiya Central Headquarters, said on Wednesday that the Iranian side changed the rules of the strait and that the situation would not return to pre-war conditions, saying no entity linked to the US and Israel has a right to pass.

Stranded vessels and cargo

As of March 20-22, around 1,900 vessels are unable to move in the vicinity of the Strait of Hormuz, according to the real-time ship tracker MarineTraffic. Among the stranded are some 324 bulk carriers, 315 oil/chemical product carriers, 267 petroleum product carriers, and 211 crude oil tankers. Around 190 million barrels of crude oil and petroleum products are aboard the tankers stranded in the region, according to analytics firm Vortexa. Additionally, 177 general cargo ships, 174 container ships, 98 liquefied petroleum gas carriers, 42 asphalt/bitumen carriers, 37 heavy-lift ships, and 34 LPG/chemical tankers are hosted in the region.

Freight rates surge

Filipe Gouveia, maritime analysis director at the Baltic and International Maritime Council, told Anadolu that the impact of halting maritime traffic on freight rates will depend on fuel prices, closure duration, and the number of vessels Iran allows to pass. Since Feb. 27, the Baltic Dirty Tanker Index rose 49% and the Baltic Clean Tanker Index 78% as of March 20, with freight rates in the container market also surging. Gouveia noted that 30% of global seaborne oil exports transit through the strait under normal conditions, and alternative land routes lack the capacity to meet normal cargo volume needs.