This week, vessel traffic through the Strait of Hormuz dropped to 33 ships as the market monitors progress in Iran-Iraq negotiations.

(1) Due to market concerns about whether the Iran-Oman talks can make progress toward reopening the Strait of Hormuz, the number of vessels passing through the strait from Monday to Thursday this week dropped to 33, a significant decrease compared to 50 during the same period last week. (2) On Thursday, a total of 4 vessels crossed the strait, including a very large crude carrier "Nissos Chios" carrying about 2 million barrels of Iraqi Basra crude oil. (3) Of the remaining 3 vessels, 2 were carrying liquefied petroleum gas and 1 was a small bulk carrier, with overall navigation activity remaining at a low level.