Container Lines Adjust to New Risks in Strait of Hormuz and Red Sea

Container Lines Adjust to New Risks in Strait of Hormuz and Red Sea

Following the exchange of attacks between Iran, its neighbors and American forces in the Mideast, ocean carriers are proceeding with caution. For safe...

Shipping lines cut Middle East routes, posing risk to trade flows

The world’s largest container carriers are rerouting ships to avoid the Persian Gulf. Read more at straitstimes.com.

Iraq weighs risks as Hormuz crisis disrupts global energy flows

Shafaq News- BaghdadIraq joined an emergency meeting of the OPEC+ alliance on Sunday as escalating military tensions in the Gulf disrupted shipping through the Strait of Hormuz, a critical artery for

War Risk Premiums to Surge as Strait of Hormuz Closure Disrupts Global Trade - India Seatrade News

London-based war risk underwriters are set to determine on Monday the revised high-risk boundaries and additional premiums for vessels transiting the Middle East after US-led strikes on Iran prompted Tehran to shut the strategically vital Strait of Hormuz. Nearly 20% of the world’s crude oil flows through this narrow waterway, making the disruption a major blow to global energy supply chains. The escalating conflict is expected to create signifi…

About 10% of Global Container Fleet Caught in Hormuz Backup

Container ships account for roughly 100 of the 750 ships ensnared in the Strait of Hormuz backups following U.S. and Israeli attacks on Iran, Jeremy Nixon, CEO of container carrier Ocean Network Express (ONE), said on Monday."About 10% of the container ship global fleet is caught up in this…