AROUND 1,900 VESSELS REMAIN STRANDED AROUND STRAIT OF HORMUZ

LONDON, March 26 (Bernama-Anadolu) -- Around 1,900 commercial vessels have been stranded in the Strait of Hormuz, primarily in the Persian Gulf, since the start of the United States (US) and Israeli attacks against Iran on Feb 28, Anadolu Ajansi (AA) reported.

Following the beginning of the attacks, Tehran effectively closed the vital waterway to vessels linked to the attacking countries, bringing the 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 the military tensions, with most of the stranded ships dropping anchors in open waters.

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.

As of March 20 to 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.

Meanwhile, 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, with the remainder of the stranded vessels being other types like Ro-Ro cargo vessels, fuel supply tankers, and heavy-lift vessels.

Germany’s Hapag-Lloyd recently reported that six of its vessels are unable to operate in the Persian Gulf amid the ongoing tensions.

Filipe Gouveia, maritime analysis director at the Baltic and International Maritime Council, told Anadolu that the impact of halting maritime traffic on maritime markets and freight rates will vary on various factors.

Gouveia stated that the developments of fuel prices, the closure duration of the strait, and the number of vessels Iran allows to pass through the region will be decisive, while the tension in the region is affecting freight rates.

The rise is particularly obvious in the tanker market, including crude oil and petroleum product tankers.

He said, since Feb 27, the Baltic Dirty Tanker Index rose 49 per cent and the Baltic Clean Tanker Index 78 per cent as of March 20, with freight rates in the container market also surging.

The rise in fuel costs and shipping lines announcing emergency fuel surcharges contributed to the rise.

He noted that 30 per cent of global seaborne oil exports, 4 per cent of dry bulk cargo, and 3 per cent of container volume transit through the Strait of Hormuz under normal conditions, while only a portion of exports from the Persian Gulf could be sourced from alternative sources, and that alternative land routes lack the capacity to meet the normal cargo volume need.

He added that around 5.5 per cent of the world’s tanker fleet and 1.5 per cent of the container dry cargo fleets are currently estimated to be in the Persian Gulf.

-- BERNAMA-ANADOLU