The Strait of Hormuz remains a critical waypoint for vessels heading to the Arabian Gulf, where the largest dry bulk discharge ports are located on the western side. Amid the current regional conflict, many vessels inside the Gulf are unlikely to risk exiting in the near term, effectively limiting available tonnage.

According to Signal Ocean data, about 324 bulk vessels are currently located in the Strait of Hormuz region, ranging from 5,000 DWT to more than 183,000 DWT. Around 51% of these vessels are laden, indicating ongoing cargo movements. In terms of vessel size distribution, roughly 23% fall into the small bulker segment below 25,000 DWT.

Despite more than 300 vessels being effectively removed from active trading, they account for only about 2% of the global dry bulk fleet, or around 3% of the Panamax fleet. As the Arabian Gulf represents about 3% of global dry bulk trade, the overall market impact is expected to remain limited unless disruptions at the Strait of Hormuz become prolonged.