Following a series of attacks, a handful of vessels still appeared to be transiting the Strait of Hormuz early Wednesday local time, even as shipowners struggle to assess the risks of operating in this critical waterway.

Three vessels were attacked on Tuesday, including a Qatari liquefied natural gas carrier and a Saudi oil tanker, marking the highest number of incidents since a U.S.-Iran peace accord took effect last month. The regional threat level has been elevated from "substantial" to "severe."

Compared to the surge in traffic after the June agreement, these attacks have reduced the number of transiting vessels. Nevertheless, visible oil shipments continue, primarily consisting of fully laden supertankers. According to vessel tracking data, six very large crude carriers (VLCCs) are beginning or completing voyages through the Strait of Hormuz, with most navigating the U.S.-backed route closer to the Omani coast.

In contrast, liquefied natural gas (LNG) shipments have largely stalled following the attack on the Qatari LNG carrier. Approximately one-fifth of global LNG supply transits the Strait of Hormuz, and European natural gas prices have risen 10% over the past two days.

Tuesday's attacks prompted a U.S. retaliatory response. U.S. forces launched a new round of airstrikes against Iranian targets, threatening the fragile peace accord. Additionally, the U.S. Treasury Department stated that Washington has terminated a waiver previously allowing the temporary sale of Iranian energy.

The actions by Tehran and Washington are forcing shipowners to reassess voyage plans through the Strait of Hormuz and reconsider which routes to take.

A maritime risk consultancy, Marisks, noted in a report to clients on Wednesday that future tanker movements will increasingly reflect the current security environment rather than prior freight commitments.