Strait of Hormuz Disruptions and Dry Bulk Demand Surge

## Strait of Hormuz Disruptions Halt Oil Tanker Traffic According to tracking data reviewed by Platts, part of S&P Global Energy, oil tanker traffic transiting the main shipping lanes in the Strait of Hormuz was halted on March 1. 'There were no crude or product tankers seen arriving to transit the main Hormuz traffic separation scheme (TSS) channels,' the report states. The Strait of Hormuz is a critical global chokepoint, with an estimated 21 million barrels of oil passing through it each day. Disruptions to shipping in this region can have significant impacts on global energy markets and supply chains. The reasons for the halt in tanker traffic are not entirely clear, but the Hellenic Shipping News reports that it may be related to 'military attacks on QatarEnergy's operating facilities in Ras Laffan Industrial City and Mesaieed Industrial City.' This has led QatarEnergy to cease LNG production and related activities. ## Dry Bulk Ships in High Demand In other news, the demand for second-hand dry bulk ships has grown considerably in recent weeks, according to shipbroker Xclusiv. 'From 1 Jan to 20 Feb 2026, the dry bulk S&P tape has been running at a materially stronger tempo compared to the same window of 2025,' the company reported. This surge in demand for dry bulk carriers is likely driven by the ongoing recovery in global trade and economic activity. Dry bulk ships are used to transport essential commodities like coal, iron ore, and grains, which are in high demand as economies rebound from the COVID-19 pandemic. The Hellenic Shipping News notes that 'beneath the headline strength, a nuanced vessel-supply-side picture hints that net fleet growth is set to accelerate this year, despite the anticipated sanctions pull in certain trades.' This suggests that the current high demand for dry bulk ships may be sustainable in the near term. ## Impacts on LNG Production in Qatar In addition to the disruptions in the Strait of Hormuz, the Hellenic Shipping News also reports that QatarEnergy has ceased LNG production and related activities due to 'military attacks on QatarEnergy's operating facilities in Ras Laffan Industrial City and Mesaieed Industrial City.' Qatar is a major global supplier of LNG, accounting for around 22% of the world's total LNG exports in 2021. Any disruptions to its production and export capabilities can have significant implications for the global energy market and supply chains. The article notes that the reasons for the military offensive and its impact on QatarEnergy's operations are not yet fully clear. However, the cessation of LNG production in Qatar is likely to have ripple effects throughout the global energy industry.