Maritime traffic through the Strait of Hormuz has collapsed by roughly 95 percent, with daily vessel transits falling from about 100 ships to as few as five. The waterway handles close to a third of seaborne crude oil.
Crude exports from Gulf producers have dropped by around 47 percent, with direct shipments through the strait falling to roughly 2.2 million barrels a day. Analysts estimate five to seven million barrels of Gulf oil daily now face disruption.
Shipping has been rerouted toward the Red Sea and Southeast Asia, with Singapore and Malaysia emerging as major redistribution hubs. Kuwait recorded the steepest fall in port traffic.
Oil prices have risen about 20 percent, though analysts attribute much of the increase to market adjustment rather than an outright supply shock.
For Asia-Pacific economies dependent on Gulf energy imports, the rise of Singapore and Malaysia as redistribution centres shows how quickly regional hubs absorb trade when routes are choked off.
