The U.S. government has informed ships that if there is no need to move between ports in the Gulf of Oman and the Strait of Hormuz, it is better to avoid this strait. This warning has been issued as tensions in the region have increased.
Details of the U.S. Warning
In a notice recently published, ships have been advised to allow more time for passing through this area to prevent increased traffic and enforcement of military sanctions. No specific details have been provided regarding the reason for this warning. This warning is similar to a notice issued by the U.S. government in mid-July when it began enforcing sanctions against Iranian maritime transport.
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Impact of Sanctions on Maritime Traffic
Maritime traffic in this strategic strait has improved in recent months, with shuttle tankers making up a significant portion of the oil traffic. These tankers travel several times a day to the Persian Gulf and then to the Gulf of Oman to load. While many tankers are cautious about passing through the Strait of Hormuz due to sanctions, some oil tankers have helped increase the flow of oil from the Persian Gulf to levels close to pre-war times by taking the risk of passing through this route.
U.S. sanctions have reduced Iran's oil exports to nearly zero. At the same time, reports indicate that Iran has significantly increased its attacks on ships in this area, with these attacks reaching their highest level during the war in October.
Inspections and Questions for Neutral Ships
The latest U.S. warning has stated that neutral ships carrying neutral cargo or moving neutrally may be subject to inspections, visits, and questions to confirm their intentions regarding the sanctions. This action is aimed at ensuring security in the region and preventing any misunderstandings regarding the passage of ships.
The U.S. Central Command and the U.S. Naval Forces Central Command, which oversee sanctions against Iran, have not responded to urgent requests for clarification.
Impact on Oil Companies
Major oil companies such as Scorpio Tankers and Bahri have also felt significant impacts from this situation. Scorpio Tankers has reported that tanker revenues have surged due to increased shipping rates. Meanwhile, Bahri has also reported substantial profits in the third quarter of the year due to rising oil shipping rates.
October 2023 has become the worst recorded month for attacks on commercial ships in and around the Strait of Hormuz, and this situation currently has significant effects on the oil market and maritime traffic.
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