Maritime traffic through the Strait of Hormuz has collapsed by roughly 95 percent, with daily vessel transits falling from about 100 ships to as few as five. The waterway, one of the world’s most critical energy chokepoints, handles close to a third of seaborne crude oil, making the disruption significant for the global economy.
Crude exports from Gulf producers have dropped by around 47 percent compared with earlier levels, with direct shipments through the strait falling to roughly 2.2 million barrels a day. Analysts estimate that as much as five to seven million barrels of Gulf oil daily now face some form of disruption.
Shipping has been rerouted toward the Red Sea and Southeast Asia, with Singapore and Malaysia emerging as major energy redistribution hubs. Kuwait recorded the steepest fall in port traffic at 86 percent, while Saudi Arabia’s decline was smaller thanks to pipeline links and Red Sea port access.
Oil prices have risen about 20 percent from earlier levels, though experts attribute much of the increase to market adjustment rather than an outright supply shock. Depleted inventory buffers, they warn, could leave the market vulnerable to sharper volatility in the months ahead.
For the Asia-Pacific, heavily dependent on Gulf energy imports, the reordering of shipping routes carries direct consequences. The rise of Singapore and Malaysia as redistribution centres underscores how quickly regional hubs can absorb trade when established routes are choked off.
