Strait of Hormuz LNG traffic hits post-war high: 31 tankers in October

Liquefied natural gas (LNG) tanker traffic through the Strait of Hormuz rose in October 2026 to its highest monthly level since the Iran war began, according to vessel-tracking data cited in reports on Tuesday, 10 November 2026. Thirty-one loaded LNG tankers left the strait in October, up from 23 in September, according to S&P Global Energy tracking data. Most of the gas came from Qatar's Ras Laffan terminal, where force majeure, a legal notice that a supplier cannot meet contracts because of events beyond its control, still remains in effect.

The Strait of Hormuz, the narrow sea passage between Iran and Oman, is the only sea route out of the Gulf for Qatar's gas and for much of the region's oil. Since the Iran war began, insurers, shipowners and buyers have weighed the risk of every passage. A steady rise in tanker crossings is therefore one of the clearest real-world signs of how confident the shipping industry is that the route can be used, regardless of what governments say.

The recovery is real but partial. Qatar's Ras Laffan loaded a little over 2.7 million tonnes in October, less than half of what Qatar shipped in February before the conflict. With force majeure still in place, Qatar is not bound to deliver every contracted cargo, and buyers have had to find gas elsewhere at higher prices. Ship-to-ship transfers off Oman suggest that some cargoes are being moved in ways that reduce the time large tankers spend in the riskiest waters.

For India, the numbers matter directly. India relies heavily on imported LNG for power, fertiliser plants and city gas networks, and Gulf suppliers, Qatar above all, are central to that supply. More cargoes moving through Hormuz eases pressure on spot prices and on supply planning for Indian importers, though the gap with pre-war levels shows the market is still far from normal. The data also bears on India's wider energy security, since the same passage carries crude oil bound for Indian refineries.

Peepals calculation: Loaded LNG tankers leaving Hormuz rose from 23 in September to 31 in October, an increase of about 35% ((31 − 23) ÷ 23 ≈ 0.35). Kpler's loadings count rose about 56% (42 ÷ 27 ≈ 1.56). Qatar's share of October's tanker exits was about 74% (23 ÷ 31 ≈ 0.74). Ras Laffan's October loadings of a little over 2.7 million tonnes were about 44% of Qatar's February exports of nearly 6.2 million tonnes (2.7 ÷ 6.2 ≈ 0.44). The two trackers count differently, so their figures are compared only with themselves. Our calculation from the reported figures.

Short-term: More LNG supply reaching Asian and European buyers can ease spot prices and give importers more room to plan winter purchases. Shipping and insurance markets will take the rising traffic as a signal that the route is becoming more usable.

Long-term: Unless force majeure is lifted at Ras Laffan and exports return towards pre-war levels, buyers are likely to keep spreading their purchases across more suppliers, including the United States, Australia and Africa, to reduce dependence on a single sea passage.

Who is affected: LNG importers in India and the rest of Asia, power and fertiliser companies that run on gas, city gas distributors, Gulf exporters, shipowners and insurers.

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