Executive Summary
- Marmore’s monthly Maritime Dashboard monitors how the ongoing U.S.-Israel-Iran conflict is reshaping shipping routes, port activity, and oil production across the Gulf.
- September 2026 data mark a new low for the Strait: Hormuz transits fell to 109 ships from 146 in August, and transit trade volume dropped to 2.3 million metric tons— below even March’s trough and barely 3% of pre-conflict levels.
- Saudi Arabia (-75% y/y) and Kuwait (-96%) remain the hardest hit on ship arrivals, with Saudi outgoing shipments at 3.1 million MT versus 31.2 million MT in February. Oman (+8% y/y) is the only Gulf state above pre-conflict arrival levels, and at 7.7 million MT its outbound shipments now exceed the UAE’s (6.4 million MT).
- Red Sea and bypass ports partially recovered from August’s setback — Yanbu (+33%), Umm Qasr (+29%), Shuaiba (+25%), Sohar (+21%) and Jubail (+16%) all gained m/m — while Jeddah (-35%) and Ras Laffan (-26%) declined.
