The Digest:
Two ships have passed through the Strait of Hormuz since Iran agreed to reopen the waterway as part of a two-week ceasefire deal with the US. MarineTraffic reported the Greek-owned bulk carrier NJ Earth crossed at 08:44 UTC, while the Liberia-flagged Daytona Beach transited earlier. Access to the Strait had been severely restricted by Iran since February 28, with traffic dropping 95% from peacetime levels. Around 800 ships are currently stuck in the Gulf awaiting passage.
Key Points:
- The transit may signal a broader ceasefire-driven reopening.
- From March 1 to April 7, only 307 crossings occurred, a 95% decrease.
- Around one-fifth of global crude oil and LNG passes through the strait in peacetime.
- The Greek-owned ship used an Iranian-approved route near Larak Island.
- Analysts caution that this first transit should be read cautiously.
