Post #603

🚢📉According to Kpler, tanker traffic through the Strait of Hormuz has fallen by 90% since the start of the Middle East war. ➡️The Strait of Hormuz is the only sea route from the Persian Gulf to the Indian Ocean. It is a key export route for oil, petroleum products, and liquefied natural gas from Gulf countries to global markets. 🟦The Strait of Hormuz closure in facts and figures: 🔵Around 200 tankers carrying oil and petroleum products are effectively blocked in the Persian Gulf, with vessel traffic completely halted, according to Lloyd's List; 🔵The most acute congestion problem is observed among very large tankers (VLCCs); there are currently 60 such vessels in the Persian Gulf; 🔵 Among shipowners, the South Korean company Sinokor holds the largest share with six very large tankers (VLCCs) in the region; 🔵 This route typically carries 20 million barrels per day of oil and petroleum products, accounting for approximately 20% of global consumption; 🔵 About 20% of global oil trade and up to 30% of liquefied natural gas exports from the Persian Gulf countries pass through Hormuz, with no alternative routes for Qatar and the UAE; 🔵More than 80% of the oil, petroleum products, and LNG transported through the strait are destined for Asian countries—China, India, Japan, and South Korea. ✅@NewEasternOutlook