Iran has expanded its blacklist of tankers to 77 vessels. This action includes the addition of 21 ships in less than the last two weeks, and insurers, P&I clubs, and classification entities providing services to the specified ships have been warned.
Review of the Blacklist
The Persian Gulf Organization announced on Monday that it has updated its non-compliance list and warned marine insurers, clubs, and classification entities to refrain from engaging with the listed ships to avoid unspecified consequences. With the recent update, the number of ships on the blacklist has increased from 56 ships at the beginning of this month to 77 ships.
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Ships identified by this Iranian entity may face restrictions in future transits through the Strait of Hormuz, including fines, detention, or confiscation. Additionally, ships that cooperate with blacklisted vessels in inter-country cargo transfer or transshipment operations may also be added to this list.
Lack of Clarity on Enforcement Consequences
The Persian Gulf Organization has not specified the timing or conditions for enforcing these penalties, which has increased uncertainty for owners, charterers, and service providers in marine repairs in the Persian Gulf. This list has rapidly expanded, and reports related to the end of August indicate that Iran's initial list included 45 unique vessels, including VLCC tankers, product tankers, LNG and LPG carriers, and cargo ships.
Owners and operators of vessels affected in the first round included companies such as ADNOC Logistics & Services, Navig8, Bahri, Sinokor, Stolt-Nielsen, Klaveness Combination Carriers, Shipping Corporation of India, Dynacom, and GasLog. At that time, Tehran also warned that vessels conducting STS or transshipment operations with blacklisted ships may themselves be added to this list.
Decrease in Maritime Traffic in Hormuz
The recent expansion of the list comes as maritime traffic in the Strait of Hormuz continues to decline sharply. Draft tracking data released on Monday showed that the traffic of cargo-carrying vessels has recently dropped to single digits, while the 10-day average of this traffic was 14 ships per day. However, these figures may not include vessels passing with AIS turned off.
In other parts of the Middle East, the picture is moving in the opposite direction, with a rapid return of liner operators to the Red Sea and the Suez Canal, despite advances by the Houthis in the region. Companies Maersk and Hapag-Lloyd are directing four additional services from their joint venture through the Red Sea and the Suez Canal, aiding their gradual return to the shorter Asia-Europe corridor.
Maersk announced on Monday that services AE5, AE11, AE12, and ME2 will shift from the Cape of Good Hope to Suez transit routes. Hapag-Lloyd is also marketing these loops as NE4, SE2, SE1, and IEX. This decision was made after a reassessment of security conditions in the Red Sea and will shorten transit times.
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