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What Side of the Strait Is Washington On?
Yesterday we walked through how insurance closed the Strait of Hormuz in early March.
What we did not address was who has been keeping it closed since then.
The April Recovery
A ceasefire was announced on April 8. Within days, dark-fleet traffic began ticking back up. Vessels were running their AIS transponders dark, presumably coordinating with Iranian authorities for transit permission, paying fees in yuan and Bitcoin. The transits climbed from near-zero in March toward twenty-eight ships per day by mid-May.
Matt Smith has been tracking them. Here's a graph from him.
