This decline in the movement of ships has come at a time when military tensions between America and Iran have increased again. Iran's retaliation following the US attacks has raised concerns about maritime security in the region. The Strait of Hormuz is a vital route for global energy supplies.
Kepler's data are preliminary and subject to change. This is because some ships turn off their transponders during a voyage, so that their actual movements are not immediately recorded in ship-tracking data.
However, the continued decline in ship traffic indicates an increased security risk to commercial ships transiting the Strait of Hormuz. Iran has also recently added several ships to its blacklist, increasing the risks to the oil and gas business.
The IMF chief has warned that the closure of the Strait of Hormuz is increasing borrowing costs around the world and putting developing countries' debt- progress at risk.
Kristalina Georgieva said that along with rising levels of overall debt, inflationary pressures from the still-closed waterway are also pushing bond yields higher.
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