Strait of Hormuz Transits Rise as US Advises Ships, Boosting Oil Tanker Prospects

More commercial vessels are navigating the Strait of Hormuz, aided by US military advice, raising hopes that Gulf oil and gas flows will resume and supercharge tanker rates already at generational highs. The US Central Command confirmed it is providing guidance but not escorting ships. Shipowners said helicopters intervened when Iranian fast boats approached a group of vessels. Chevron CEO Mike Wirth noted some transiting ships have been attacked. The US reiterated that any toll-paying deal with Iran for safe passage is banned, though White House signals on broader negotiations remain mixed. “Once Hormuz reopens, we expect a frenzy phase to start,” Gerasimos Kalogiratos, CEO of Capital Tankers Corp., said, adding that long-term tanker rates would stay high as global inventories refill. At least a quarter of non-Iranian ships stranded since the conflict began have departed, though some turned off transponders. TotalEnergies said it awaits lasting peace before returning.