The closure of the Strait of Hormuz has made Kenya’s Lamu port a key alternative for vessels from the Middle East. Since January, Lamu has welcomed 74 ships, significantly boosting regional trade. Although facing challenges, such as limited capacity and security issues, its potential as a transshipment hub is growing.
The U.S. has permitted Iranian oil tankers to navigate the Strait of Hormuz amid escalating tensions, aiming to stabilize global oil supplies. U.S. Treasury Secretary Scott Bessent noted this decision’s significance for ensuring oil availability in world markets, even as Iran continues crude exports despite security threats affecting tanker traffic.
Unusual ship movements in the Strait of Hormuz are raising concerns about Iran informally screening vessels. Recent analyses show ships taking non-standard routes, potentially functioning as verification checkpoints amid declining commercial traffic due to attacks. The Pakistan-flagged tanker Karachi is noted for broadcasting AIS signals, indicating increased scrutiny in the region.
Thailand’s Foreign Ministry has formally requested an apology from Iran after a Thai vessel was struck by a projectile in the Strait of Hormuz on March 11. The incident, which resulted in a fire and forced the crew to evacuate, has raised diplomatic tensions, prompting Thailand to seek clarification from Iran.
Washington has made strides in enhancing commercial shipping through the Strait of Hormuz with a new partnership between the U.S. International Development Finance Corporation and Chubb Limited. This $20 billion maritime reinsurance program aims to revive vessel traffic in the Gulf, addressing recent disruptions from missile and drone attacks.
A significant number of oil tankers are avoiding the Strait of Hormuz due to heightened tensions following recent U.S. and Israeli bombings in Iran. While some vessels continue to transit, many are paused at the strait’s entrance. This area is vital, with 20% of the world’s oil passing through daily.
