Over 80 percent of vessels transiting Strait of Hormuz choose Omani route: US media

More than 80 percent of vessels transiting the Strait of Hormuz over the past two weeks chose the Omani route, CNN reported on Tuesday, citing data from ship-tracking platform Kpler. The reort said the result suggests Iran's control over the strait has weakened compared with one or two months ago.

Kpler found through tracking vessel transponders and satellite data that most ships have recently chosen to navigate the waterway via the Omani side despite the risks.

"Iran appears to have at least partially lost control of the strait," said Homayoun Falakshahi, head of crude oil analysis at Kpler.

According to CNN, Iran wants ships to prefer the northern route on the Iranian side, which is controlled by Iran. However, traffic on that route has dropped sharply, making it impossible for Iran to collect "tolls" from passing vessels, as it had been doing since the Iranian Parliament's national security and foreign policy committee passed a bill on March 30 to charge vessels transiting the strait.

After the United States and Iran signed a memorandum of understanding (MoU) in mid-June, the Strait of Hormuz, which had been closed due to the conflict between the two countries, was briefly reopened, creating the Iranian-controlled northern route and the two southern routes on the Omani side where the U.S. military provided navigation assistance, known as the Omani route.

Later, conflicts between the two countries over control of the strait resumed, and Iran announced the closure of the strait again.

Dan Pickering, chief investment officer at Pickering Energy Partners, said most vessels in the Middle East are unwilling to pay and have never paid "tolls" to Iran, making the Omani route the most practical choice.

According to Andy Lipow, president of Lipow Oil Associates, Kuwait, Saudi Arabia and the United Arab Emirates have chartered ultra-large crude carriers to sail out of the Persian Gulf through the Strait of Hormuz and transfer crude to customer tankers in the Gulf of Oman, outside the danger zone. To avoid attacks, these carriers have turned off their transponders, sometimes for weeks at a time.

CNN said this covert shipping activity appears to have also evaded tracking by Kpler and other ship tracking agencies.

Over 80 percent of vessels transiting Strait of Hormuz choose Omani route: US media

Over 80 percent of vessels transiting Strait of Hormuz choose Omani route: US media

Over 80 percent of vessels transiting Strait of Hormuz choose Omani route: US media

Over 80 percent of vessels transiting Strait of Hormuz choose Omani route: US media

The fourth meeting of the APEC Business Advisory Council (ABAC) opened on Saturday in Shenzhen City in south China's Guangdong Province, drawing members who underscored China's expanding leadership in driving trade integration, green energy and multilateral cooperation across the Asia-Pacific.

The three-day meeting has gathered more than 60 representatives from 21 APEC economies, along with nearly 200 experts and accompanying staff, according to the organizer, the China Council for the Promotion of International Trade (CCPIT).

As global trade faces mounting economic headwinds and shifts toward sustainability, international business leaders pointed to China's technological advancements as a crucial catalyst for regional development.

Kasemsit Pathomsak, a Thai representative on ABAC, APEC's private-sector advisory body, highlighted China's contributions to green technology.

"China has played a very important role all along, especially when it comes to the renewable and green initiatives, with solar production, green technology, EVs. China has been very forefront in innovating and bringing this technology to the masses. I think it's very important to try help the world to try and become more green and affordable, to try transition to this green technology," said Pathomsak.

Members also highlighted APEC's vital platform for bilateral and multilateral engagement, fostering commercial bridges across diverse markets.

"As one of the economies that's in APEC, China, as we all acknowledge, is a very important trade partner in this region in both bilateral and multilateral opportunities. For Canada, we see that it is very important for us to establish a proper conduit of opportunities where we can grow together and understand the risks where we have to be clear about where we can and cannot go together. So, we think that APEC is an excellent opportunity where the public sector and the private sector, which I represent, would be able to engage in a deeper conversation on this," said Joseph Fung, an ABAC member from Canada.

Meanwhile, Francisco Suarez Hernandez, an ABAC member from Mexico, praised China's logistical and organizational leadership in hosting the meeting.

"It's really important and China hosting this event is the best example of leading. I think creating a bridge between Mexico, next year Vietnam, and this year China is going to be a great example. We actually hosted ABAC II (Second meeting of APEC Business Advisory Council) this year in Mexico. So, I know the effort," he said.

Founded in November 1995, ABAC is the only non-governmental body with an official advisory role in the APEC Economic Leaders' Meeting, engaging in a formal dialogue and submitting annual policy recommendation reports to APEC leaders.

After the ABAC meeting, Shenzhen will host the 2026 APEC CEO Summit on Nov 17 to 18, drawing the region's top business and government leaders to chart a course for Asia-Pacific prosperity.

This is the third time China has hosted APEC meetings, and the first in 12 years.

Working with other member economies under the theme of "Building an Asia-Pacific Community to Prosper Together," China has focused on three priorities, namely openness, innovation and cooperation, and has hosted more than 300 meetings and events across the country during the year.

ABAC members laud China's role in Asia-Pacific economic integration