Due to the ongoing closure of the Strait of Hormuz, an estimated 1,200 cargo ships are currently stranded, holding approximately $125 billion in goods. This critical chokepoint, vital for global oil and gas trade, has seen a drastic reduction in vessel movements. As of December 24, 2026, roughly 360 laden commodity vessels are trapped inside the Gulf, while an additional 600 vessels, including 98 crude tankers and 88 dirty-petroleum product carriers, are awaiting exit or entry. These figures are significantly higher than the 53 container vessels initially reported as trapped two months prior, with only nine having successfully exited.
Shipping intelligence firm Kpler indicates that clearing the backlog of around 360 laden commodity vessels could take several weeks, even under a "best-case" scenario allowing about 40 ships per day. Historically, the strait handled an average of 138-135 crossings daily before the conflict. However, since the US-Iran deal on June 18, only 172 vessels had crossed by June 24, with a mere 42 on Saturday alone. More than 200 tankers were waiting inside the strait, with 30 laden with Iranian oil having departed. Experts highlight that physical transit limitations and operational realities make rapid clearance unlikely, and the current operation is effectively a one-way evacuation, not normal commercial traffic.
The disruption has severely impacted various cargo types, including crude oil, LNG, LPG, clean petroleum products, petrochemicals, and dry bulk cargoes, intensifying concerns for global energy and industrial supply chains. Container traffic activity has plummeted by over 93% since February 28, with an estimated 0.5 million TEUs (500,000 twenty-foot equivalent units) stranded at sea or dry ports in the Gulf. An additional 1-1.5 million TEUs of transshipment volume have been affected. This blockage has already triggered sharp increases in global oil markets, freight costs, and marine insurance premiums, as traders assess the risk of prolonged supply chain issues.
Concerns about sea mines in the internationally recognized shipping lanes have further complicated transit, with warnings issued by the Joint Maritime Information Center (JMIC) about active mine clearance operations. The JMIC has recommended a narrower southern route through the strait, closer to the coast of Oman, which has been confirmed clear of mines. While some ships have attempted this route, transits remain a trickle after Iran declared the strait closed again on June 20. Shipowners and traders are still seeking clarity on the potential reopening and details of the US-Iran deal, with concerns persisting over safety and Iranian control measures.
