Hormuz Traffic Collapses 70% as IRGC Declares Strait Closed, Insurers Pull Coverage

Hormuz traffic drops 70% after IRGC closure threat. Insurers pull coverage. Houthis pledge Red Sea return. Belgium seizes shadow fleet tanker.

GOSSHIPS CONFLICT MONITOR — 3 March 2026

The Strait of Hormuz is effectively shut to commercial traffic after Iran's Islamic Revolutionary Guard Corps declared the waterway closed on 2 March, triggering the worst disruption to global energy flows in decades. Ship-tracking data shows a 70 percent drop in vessel movements through the strait since the U.S.–…