London, February 28 – Several oil and gas companies have paused shipments through the Strait of Hormuz after military strikes by the United States and Israel on Iran. Iranian authorities later announced that navigation through the strait was closed, according to trading sources.
The Strait of Hormuz is one of the world’s most important shipping routes. About 20 percent of global oil passes through this narrow waterway, including exports from Saudi Arabia, the United Arab Emirates, Iraq, Kuwait and Iran. Large volumes of liquefied natural gas, LNG, from Qatar also move through the area.
Following Iran’s announcement, multiple tanker owners and energy trading companies stopped vessel movements. Satellite tracking data showed ships waiting near major ports such as Fujairah in the United Arab Emirates instead of entering the strait.
An official from the European Union naval mission, Aspides, said several ships received radio messages from Iran’s Revolutionary Guards stating that no vessels were allowed to pass. However, the British Navy said these orders were not legally binding and advised ships to proceed with caution.
The U.S. Navy also warned that it could not guarantee the safety of vessels in the wider region, including the Gulf, the Gulf of Oman, the North Arabian Sea and the Strait of Hormuz. The tanker association INTERTANKO confirmed that shipping companies were taking these warnings seriously.
While traffic has not completely stopped, disruptions are increasing. Shipbroker Poten & Partners reported that delays are building quickly. At least 14 LNG tankers have slowed down, changed direction, or stopped near the strait, according to energy consultancy Kpler. This could affect LNG exports from Qatar if the situation continues.
Several major shipping companies have announced precautionary measures. German container shipping company Hapag-Lloyd said it has suspended vessel transit through the Strait of Hormuz until further notice. Denmark’s Maersk stated it is coordinating closely with security partners in the region, while continuing to accept cargo in the Middle East. French shipping group CMA CGM instructed its vessels in or heading toward the Gulf to move to safe areas.
With oil prices already near a six-month high, any prolonged disruption in the Strait of Hormuz could further impact global energy markets. Industry observers are closely monitoring the situation as geopolitical tensions continue to rise.
