London, May 1 -- Shipping through the strategic Strait of Hormuz has seen a dramatic decline amid escalating tensions in West Asia, following US and Israeli strikes on Iran and Tehran's retaliatory action in the region, with traffic falling by more than 90 per cent since the onset of the conflict, according to assessments by maritime security officials.

The UK Maritime Trade Operations (UKMTO), a Royal Navy-led monitoring body, has reported over 40 incidents between March 1 and April 27, including attacks, vessel damage, harassment, and near-misses involving merchant ships navigating the region.

"Ships or their crew were either directly damaged or suffered collateral impact, such as shrapnel from intercepted drones, while several vessel...