In numbers: The commodities most affected by the Strait of Hormuz shutdown

LONDON, April 4 — Besides oil and gas, Iran’s blockade of the Strait of Hormuz has choked off shipments of crucial goods and raw materials to world markets.

Overall volumes of dry bulk goods fell from 7.5 million tonnes in February to 1.3 million tonnes in March, according to data from maritime intelligence firm AXSMarine — an 83-per cent decline.

Here are five measures of the impact on commodities based on data from the firm, since the war started with US and Israeli attacks on Iran on February 28.

Bulk commodities: Down 93 per cent 

Within dry goods, “bulk commodities” exports include raw materials such as limestone for cement-making, sulphur for fertilisers and industrial chemicals, and gypsum for construction, agriculture and manufacturing.

Overall shipments of this class of commodities through the strait fell 93 per cent in March compared with February, from nearly five million tonnes to just 326,000.

Fertilisers: -92 per cent

Fertilisers such as urea are crucial for crop production, with exports through Hormuz typically heading to Brazil, China, India and Africa.

Fertiliser shipments through the passage fell 92 per cent from over a million tonnes in February to just 82,000 in March.

Iron ore: -65 per cent 

Iron ore is a crucial ingredient for making the steel that goes into everything from buildings to vehicles to machinery.

Exports of iron ore through the strait fell by 65 per cent in March from the month before, from over 530,000 tonnes to 186,000.

Steel: -93 per cent 

Shipments of steel fell 93 per cent from nearly 162,000 tonnes to 11,000.

Grain imports: -92 per cent

Meanwhile grain shipments westbound through the strait into the Gulf plunged 92 per cent from 2.3 million tonnes to 196,000.

AXSMarine told AFP that a significant share of the goods shipped in March were unknown cargos due to disruptions and manipulation of ships’ signals in the conflict zone. — AFP