Greek, UAE, Chinese shipping firms hit hardest by Strait of Hormuz block

Shipping companies from Greece, the United Arab Emirates and China are among those astir affected by the closure of the Strait of Hormuz, according to information from Bloomberg and planetary maritime monitoring organizations.

Over the past 48 hours, astir 670 cargo ships person been tracked waiting connected the western broadside of the strait. However, the existent fig whitethorn beryllium higher, arsenic some ships are believed to person switched disconnected their tracking systems.

Companies based successful the United Arab Emirates relationship for the largest share, with astir 120 vessels, astir 18% of the total. Greek shipping firms fertile second, managing astatine slightest 75 commercialized ships that successful the strait since the start of the conflict, representing astir 12%. Of these, astir 30 are lipid oregon state tankers, according to Bloomberg analysis.

Chinese companies travel closely, with 74 vessels successful the area, including 25 lipid and state tankers, while the remainder are instrumentality ships oregon wide cargo carriers.

The disruption has besides affected different Asian operators. Japanese firms are linked to astatine slightest 23 lipid and state tankers and 16 adust cargo ships operating successful the strait.

Ship movements are tracked done an Automatic Identification System (AIS), a mandatory system for astir commercialized vessels. AIS continuously transmits information such arsenic position, speed, people and identity, enabling some maritime and onshore monitoring of planetary shipping activity.