Shipping in Strait of Hormuz still at a trickle despite US-Iran ceasefire

Washington and Tehran accuse each other of not honouring truce agreement.Shipping remains at a standstill in the Strait of Hormuz despite the ceasefire agreement between the United States and Iran, dampening hopes for a resolution to one of the worst global energy disruptions in history.Only a handful of vessels have transited the critical strait since Washington and Tehran on Tuesday announced a two-week pause in fighting, according to ship tracking data.Recommended Stories list of 4 itemslist 1 of 4Police in Venezuela block protesters calling for higher wages, pensionslist 2 of 4Iran’s Supreme Leader Mojtaba Khamenei says ‘we seek compensation, not war’list 3 of 4Ecuador hikes tariffs to 100-percent in feud with neighbour Colombialist 4 of 4Video shows explosion over Erbil in suspected drone interceptionend of listFive vessels crossed the strait on Wednesday, down from 11 the previous day, and seven transited on Thursday, according to data from market intelligence firm Kpler.More than 600 vessels, including 325 tankers, are still stranded in the Gulf due to the blockage of the strait, according to Lloyd’s List Intelligence.“While some vessel movement has resumed, traffic remains very limited, compliant shipowners are likely to stay cautious, and safe transit capacity is expected to remain constrained at maximum 10–15 passages a day if the ceasefire holds, without consideration of tolls applied,” Kpler trade risk analyst Ana Subasic said in an analysis on Thursday.The waterway, which usually carries about one-fifth of global oil and liquefied natural gas (LNG) supplies, typically handled about 120-140 transits before the US and Israel launched their attacks on Iran on February 28.On Thursday, US President Donald Trump accused Iran of failing to live up to its part of the ceasefire agreement, which includes a commitment to allow “safe passage” through the waterway for two weeks.“Iran is doing a very poor job, dishonorable some would say, of allowing Oil to go through the Strait of Hormuz,” Trump said in a post on Truth Social.