Only Two or Three Tankers Transiting Hormuz Daily Since July in Deepest Shipping Collapse

Multiple reports indicate that the number of supertankers transiting the Strait of Hormuz has dropped to just two or three per day since July 7th, a level considered among the lowest in the strait's oil shipping history.

Normal shipping traffic through the strait prior to this crisis ranged between 15 and 20 supertankers daily, meaning that the current flow represents only a fraction of what global markets could absorb under normal circumstances.

This sharp decline has driven Asian buyers, led by China, India, and South Korea, to scramble for alternative cargoes from Africa and Latin America, albeit at higher prices and longer transit times.

Maritime shipping experts point out that if this level persists for additional months, it will lead to a redrawing of the global oil trade map, with an increasing market share for producing countries outside the Gulf — led by the United States, Brazil, and Canada.

What do these terms mean?

Very Large Crude Carrier (VLCC): A massive vessel carrying between one and two million barrels of crude oil, serving as the primary vehicle for long-distance ocean oil transportation.

Asian Buyers: Major oil-importing Asian nations such as China, India, South Korea, and Japan, which collectively account for more than half of global oil demand.

Redrawing the Oil Trade Map: A structural shift in oil flow routes from sources of production to consumers, which could alter established trade relationships and benefit certain producers at the expense of others.