Sharp Drop in Hormuz Strait Navigation as Iran Tests Ceasefire

Golden Ten Data reported on May 6 that, according to S&P Global Market Intelligence analysis, as of 4:00 p.m. UTC on Tuesday (midnight the following day, East Eight Zone), only one vessel was observed passing through the Strait of Hormuz, a decline from recent days. On Monday, a total of six vessels passed through the strait. Over the past 24 hours, Iran attacked a US warship and other vessels in the Strait of Hormuz, testing the ceasefire agreement between the United States and Tehran. Earlier on Tuesday, the US stated that Iran's military actions had not reached the level of resuming warfare. President Trump announced on Sunday that the United States would begin guiding trapped merchant ships out of the Strait of Hormuz, naming the operation the "Freedom Plan" and describing it as a humanitarian gesture to release those vessels and crew who were not involved in the conflict but were unable to transit the strait due to fear of attack.