Foreign Trade
Conflict in Iran slashes traffic in Strait of Hormuz to an average of six ships per day
Traffic in the Strait of Hormuz plummeted to six ships daily since the start of the war between the United States and Iran on February 28, representing a 95% drop from the previous average of 100 vessels. Between February 28 and May 17, 532 vessels navigated the route according to the IMF's PortWatch, including 220 oil and LNG tankers. Iranian officials reported that 20 to 25 ships passed daily during the last week.
