Strait of Hormuz crossings fall over 80%, tightening tanker availability

This is a concrete, ongoing geopolitical and energy-transport disruption with clear forward implications for oil and LNG flows, tanker availability, voyage planning, and freight costs. S&P Global Energy reports that ship crossings through the Strait of Hormuz have fallen by more than 80% since the U.S.-Iran war began on February 28, while the strait normally handles about 20% of global seaborne oil and LNG flows. The record freight rate cited in the source is excluded as market-price performance; the retained development is the underlying operational restriction and quantified decline in crossings. The occurrence timestamp is set to the estimated start of the ongoing restriction rather than the publication timestamp; the exact time is not provided. The development is distinct from the prior denial of a specific mine-strike claim but remains part of existing event 1255. Approved stakeholders are limited primarily to tanker operators, LNG logistics/exporters, and refiners or petrochemical companies with an explicit exposure to disrupted Gulf flows or replacement cargoes.