Alireza Shakernia
Due to the unstable situation in the region, ship owners are restricting transit to daylight hours only, as disruptions to global navigation systems and communications heighten the potential for ship collisions.
“At the moment, we are discussing not just concerns over potential assaults on vessels, but also the urgent issue of how to extract the remaining loads from the Persian Gulf,” states a source from S&P. “We are limited to a window of 16-18 hours daily for movement instead of the typical 24 hours, resulting in a backlog of vessels.”
Another source highlights that the absence of communication with vessels in the Persian Gulf is turning into “a very frequent event.” “Numerous ships are impossible to reach,” he stated. Issues with GPS interfere with navigation, complicating the detection of other ships and heightening the chances of accidents.
The shipping limitations have caused extraordinary traffic congestion on a key energy transit route globally, along with a significant rise in freight costs.
The Strait of Hormuz links the Persian Gulf to the Arabian Sea and transports approximately 20 million barrels of oil, condensate, and petroleum products each day, in addition to nearly 11 billion cubic feet (around 311 million cubic meters) of LNG, according to S&P.
source: spglobal.com
“At the moment, we are discussing not just concerns over potential assaults on vessels, but also the urgent issue of how to extract the remaining loads from the Persian Gulf,” states a source from S&P. “We are limited to a window of 16-18 hours daily for movement instead of the typical 24 hours, resulting in a backlog of vessels.”
Another source highlights that the absence of communication with vessels in the Persian Gulf is turning into “a very frequent event.” “Numerous ships are impossible to reach,” he stated. Issues with GPS interfere with navigation, complicating the detection of other ships and heightening the chances of accidents.
The shipping limitations have caused extraordinary traffic congestion on a key energy transit route globally, along with a significant rise in freight costs.
The Strait of Hormuz links the Persian Gulf to the Arabian Sea and transports approximately 20 million barrels of oil, condensate, and petroleum products each day, in addition to nearly 11 billion cubic feet (around 311 million cubic meters) of LNG, according to S&P.
source: spglobal.com