Global shipping faces total collapse as Hormuz transits plummet 66 percent with Greek shipowners targeted

Global shipping and the international energy market are entering a state of emergency, as the Persian Gulf turns into a battlefield once again.

The naval blockade imposed by the American president, Donald Trump, combined with the new military strikes by the US and the response of Iran with a total ban on maritime traffic, are causing an unprecedented gridlock in the Strait of Hormuz.

The data from Lloyd’s List Intelligence and Kpler reflect the magnitude of the shock, as within just one week, ship transits recorded a vertical drop of 66%, with oil and natural gas tankers massively abandoning the most critical energy corridor on the planet.

At the same time, the nightmare is growing for Greek shipping, with four Greek-owned tankers receiving successive missile attacks and drone strikes in both Hormuz and the Black Sea, causing an alert in the shipowning world.

Only 53 ship transits

Lloyd’s List Intelligence recorded only 53 ship transits in the week up to July 20, marking a 66% drop from 157 the previous week. Movements of tankers and gas carriers, which are the ships responsible for transporting most of the crude oil and liquefied natural gas (LNG) of the Gulf, fell to 30 transits from 90.

The data from Kpler similarly show that activity deteriorated almost immediately after the start of the blockade. Daily transits, which averaged more than 20 ships before July 15, fell to 16 on that day, before dropping to single digits on July 16. Traffic remained subdued during the rest of the week, with only sporadic recoveries.

The latest slowdown reverses weeks of gradual normalization, after the ceasefire in mid-June had encouraged some shipowners to resume voyages to the Gulf.

Conversely, the new hostilities once again almost completely emptied the strategic sea route that transports approximately one fifth of global oil consumption.

"Things have slowed down significantly since tensions flared up," stated Bridget Diakun, senior risk and compliance analyst at Lloyd’s List Intelligence. "This is not surprising, people are backing off and reassessing the situation, as you would expect."

However, traffic has not completely disappeared. "Every person has a different tolerance for risk," stated Diakun. "We still see tankers crossing the straits back and forth, it has not stopped completely."

Instead of a steady recovery, ship movements are likely to continue moving "with ups and downs," as shipowners take advantage of short windows of opportunity when they feel safe, before retreating again every time tensions escalate, she noted.

50% reduction in weekly traffic

The data from S&P Global presented a similar picture. Only 40 ships crossed the straits between July 17 and July 19, with an average of about 13 transits per day, while weekly traffic up to July 19 decreased by almost 50% compared to the previous week.

Merchant ships continued to account for more than 70% of traffic during the period, although only about one third was assessed as complying with the shipping restrictions. Ships associated with Iran or subject to sanctions continued to dominate many movements, suggesting that traditional international shipowners remain hesitant to return.

"The latest escalation shows how expectations for a rapid opening of the Straits were premature," stated Saul Kavonic, head of energy research at MST Marquee.

"The hostilities and the newly imposed blockade brought the conflict back on an escalation trajectory," he mentioned, adding that flows through Hormuz had fallen to around 15% of pre-war levels. Oil could test 100 dollars a barrel again if the current intensity of the fighting persists for several weeks or if regional energy infrastructures are attacked, he stated to CNBC via email.

Greek shipowners targeted

Meanwhile, Greek shipping found itself at the heart of the military hostilities, with four Greek-owned tankers receiving successive strikes in the Persian Gulf and the Black Sea.

In the Strait of Hormuz, two tankers of Dynacom Tankers Management, of George Prokopiou's interests, found themselves targeted:

The "Kavomaleas" was hit by a projectile off the coast of Oman, suffered a fire and was abandoned by the crew, while it is now drifting under the escort of a tugboat.

The supertanker "Acheloos" received a missile strike in the rudder compartment while crossing the sea route.

? BREAKING:

​Iran hit a Greek-owned oil tanker in the Strait of Hormuz.pic.twitter.com/3Qiwp51APj

— The Hormuz Wire (@HormuzJournal) July 20, 2026

At the same time, the threat expanded in the Black Sea with drone attacks on the CPC terminal in Novorossiysk. At the epicenter were:

The "Asia" (Dynacom), where the fire from the strike was immediately extinguished.

The "Nissos Ios" of Kyklades Maritime (Alafouzos family), which was hit during loading.

Despite the damage, no injuries or oil spills were reported, with the ships remaining seaworthy. However, loading operations at the station were temporarily suspended for a safety assessment, intensifying concern for the future.

IRGC: We attacked two tankers and immobilized them, information that one was Greek

Furthermore, the state broadcasting network of Iran (IRIB News) transmitted the information that the Iranian Authorities attacked a Greek tanker in the waters south of Iran and stopped it. According to all indications, it is the "Kavomaleas".

This is the second incident that occurred on Monday (20/7/2026) after the one involving a Kuwait-flagged oil tanker that was attacked near the coast of Oman in the Strait of Hormuz.

In their announcement, the Revolutionary Guards stated that a large fire broke out and two oil tankers were immobilized, which, as they claimed, violated the rules and attempted to pass through the dangerous southern route of Hormuz, influenced by the instructions of the American military, after an explosion occurred on them.

The Revolutionary Guards mentioned that rescue teams are in the process of an operation to remove the crews from the area.

At the same time, the Navy of the Revolutionary Guards repeated its warning to shipping companies, calling on them to prioritize the safety of their crews and ships, not to rely on information attributed to the American military, and to avoid routes characterized as dangerous or operationally unsafe.

Furthermore, in the announcement of the Revolutionary Guards it is emphasized that, as long as the American actions in the region continue, the Strait of Hormuz will remain closed and no exports of oil, natural gas or chemical fertilizers will take place through this specific sea route. As they disclosed, they have already launched "punitive operations" against American bases, which they characterize as aggressive, in response to naval violations.

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