Since the renewed outbreak of fighting, the number of ships transiting the Strait of Hormuz has fallen sharply, and transportation costs have risen

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Mars Finance news: On July 11, since fighting between the US and Iran flared up again this week, transit volume through the Strait of Hormuz has fallen significantly. According to Kpler data, on Thursday the number of vessels transiting decreased from 30 the previous day to 22. On Tuesday local time, clashes between the two sides erupted again after Iran targeted ships in the Strait of Hormuz (including damage to a Qatar LNG carrier). Since the two sides began exchanging strikes on Tuesday, only two LNG vessels have entered the strait, and one has sailed out. After the US and Iran signed an agreement on June 17 to open negotiations aimed at ending the conflict, transit volume had increased, reached a peak a few days later, and then the ceasefire was broken. On Friday, shipping brokerage Braemar LNG said in a client report that vessel owners are taking a cautious approach and have withdrawn available tonnage from the region, “until the geopolitical situation becomes clearer.” This move reduced the number of available vessels and pushed up transportation costs.
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