Clarksons Research, the data and analytics arm of the Clarksons Group have been closely monitoring shipping activity and markets impacted by the conflict.

Summarising their latest update issued today at 12.00 am 23rd March, Steve Gordon, Global Head of Clarksons Research commented :

Strait of Hormuz transits still remain 95% down on pre-conflict levels (avg. 4 transits per day past week vs ~125 pre-conflict) with 75% of transits have been exiting the Gulf in the past week

~10 oil tankers (12m bbl) estimated to have transited through the Strait over the past 7 days (versus 250 vessels of 300m bbl in a normal week)

‘Trickle’ of very large LPG carrier transits continues, with 2 recorded yesterday and 2 Indian-linked vessels passing through the Strait today (~80% below normal over the past week)

Crude exports from Yanbu are now running at ~4m bpd (up from 1m bpd, potentially increasing to 5m bpd, and with ~40 VLCCs waiting/enroute), while arbitrage dynamics supporting long-haul US oil and gas exports

10% / 6% of global oil / gas supply offline, alongside 3% of global refining capacity

Excluding locally trading vessels, there are ~1,100 ships (37m GT of $30bn) currently inside the Gulf. This total includes ~300 oil tankers, including 6% of crude tanker (8% of VLCCs) and 4% of product tanker tonnage as well as 4% of VLGC and 1% of containership and bulker tonnage