titleKpler — Two Months In: Container Data and ADNOC Export Cuts
sourceKpler
authorKpler Container Intelligence
date2026-05-07
tagsoil-shock, hormuz, maritime, supply

Key Claims

Context

Kpler's AIS-based container intelligence provides the physical real-time picture of the Hormuz crisis — tracking not just oil flows but the broader maritime disruption. The 53 trapped container vessels represent tens of thousands of TEUs of capacity removed from global rotation, generating zero revenue while consuming fuel, incurring port costs, and tying up crews under extraordinary conditions.

Carrier-by-Carrier Breakdown

CarrierTrappedEscapedSeizedStill InsideEscape Rate
CMA CGM15201313%
MSC1442829%
COSCO520340%
Evergreen30030%
Yang Ming30030%
ONE30030%
HMM20020%
Wan Hai10010%

COSCO's higher escape rate (40%) is notable — Chinese-flagged tonnage may operate under a different diplomatic and risk calculus than Western carriers.

ADNOC Export Impact

Kpler data shows ADNOC's exports have been cut by more than 1 mb/d from their 3.1 mb/d baseline. Most of ADNOC's exports are the Murban grade, exported by pipeline from onshore fields — meaning the export cut is a pipeline logistics decision, not a production shutdown. UAE has some flexibility to restore exports faster than countries with more complex offshore operations.

Market Implications

For cargo owners with supply chains dependent on Gulf petrochemical exports, electronics imports through Jebel Ali, or regional feeder connections, the picture has moved from "disruption" to "structural rerouting." The few boxes that have escaped command significantly different routing costs via alternative corridors (landbridge, Cape of Good Hope for non-time-sensitive cargo).

Relevance to Q1/Q3

Supports Q1 Supply Destruction with hard AIS-tracked export data. Relevant to Q3 Europe Impact for European importers of Gulf-origin petrochemicals and refined products — rerouting costs and delays compound supply constraints from non-maritime channels.

kpler-two-months-hormuz.md