According to data from Kpler, shipping traffic through the Strait of Hormuz increased slightly on Wednesday, with 10 commodity vessel transits recorded, up from eight the previous day. However, this figure remains below the 10-day moving average of approximately 15 vessels. The vessels navigating the strait included two medium-range fuel tankers, a liquefied petroleum gas carrier, a Panamax- sized tanker, and three handymax-sized tankers entering from the Gulf of Oman, as well as a medium-range fuel tanker, a bitumen tanker, and a bulk carrier exiting towards the Gulf.
Simultaneously, Iran and Oman are reportedly finalizing an agreement regarding the management and revenue sharing of the Strait of Hormuz, following an announcement by Iran’s Revolutionary Guards. Meanwhile, traffic at the Bab el-Mandeb strait experienced a second consecutive day of slowdown, with 19 commodity vessels passing through on Wednesday, a decrease from 24 the prior day. The data suggests that some vessels may be transiting these critical waterways with their transponders deactivated, potentially leading to undercounting. Read more at Yahoo News