Strait of Hormuz traffic gradually accelerates, easing high shipping costs

AI Summary

Shipping traffic through the Strait of Hormuz has gradually rebounded after recent military strikes between the US and Iran. The increase in vessel transit has contributed to a noticeable easing of high shipping costs in this critical maritime corridor.

Traffic through the Strait of Hormuz began to rebound following weekend tit-for-tat strikes between the US and Iran while an industry representative said the gradual increase in transit resulted in a noticeable easing of shipping costs. Reports from the maritime tracking firm Kpler said 40 vessels passed through the critical waterway on Monday, while 24 ...