Institution: Gulf traffic is expected to recover this week; Strait is unlikely to resume full capacity in the short term.

Golden Ten Data reported on June 15 that Neil Crosby, Head of Research at Sparta Commodities, expects that with the Strait of Hormuz anticipated to reopen on Friday, shipping traffic in the Persian Gulf is likely to recover this week. However, a complete clearance of the backlog may take longer, as hundreds of vessels are stranded in the Gulf region and mine-sweeping operations are expected to require additional time. "It is overly optimistic to expect the Strait of Hormuz to return to full transit volumes within one or two weeks." Issues regarding potential transit fees also remain unresolved, adding further uncertainty to route decisions. "At present, some shipowners may be hesitant to make empty voyages to the Arabian Gulf, and in the meantime, we need to seek input from insurers," Crosby said.