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The Economic Times
The Economic Times

Strait of Hormuz shipping traffic slumps to six vessels as US-Iran peace hopes fade

Shipping traffic through ​the Strait of ​Hormuz fell to six on Monday, compared ​with a 10-day average of about 11 vessels, shipping data showed, amid fading hopes of a peace deal between ‌the U.S. ⁠and Iran.

Four ⁠commodity vessels, including two empty oil product tankers, entered ​the waterway, data from Kpler showed on Tuesday as of ​0420 GMT. Two vessels - a small tanker laden with liquefied petroleum gas and another carrying residual fuels - ​exited the Strait, the data ⁠showed.

Also Read: Iran ties Hormuz reopening to US concessions on several demands

In pre-war ‌days, about 130 to 140 ships ​typically ​transited the strait.

On Monday, 25 vessels transited ⁠the Bab el-Mandeb strait on the Red ​Sea, broadly unchanged when compared with the ​10-day average of nearly 24 ships, Kpler data showed.

U.S. President Donald Trump on Monday responded to Iran's conditions for a peace deal by laying out his own demands that Iran pay ‌compensation for people killed in wars, attacks and protests.

Also Read: Iran says Hormuz transit fee details not under discussion in Oman talks

The proposal was a response to ​Tehran's demands ​for compensation ⁠and an end to sanctions. The Iranian demands were largely in line with the terms of a preliminary ​peace deal signed in June, which has since broken down.

Since the war began in February, Trump has repeatedly swung between threats of escalation and assertions that a peace deal is close.

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