China’s coastal regions have been placed on high alert as Typhoon Saudel moves across the East China Sea, disrupting air travel, ferry services, shipping and maritime operations in Zhejiang and Fujian...

Orkim's CEO warned on Mar 26, 2026 that Strait of Hormuz risks could affect clean‑product and LPG flows; ~20% of seaborne oil transits Hormuz (IEA 2023).

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KUALA LUMPUR, March 1 (Bernama) — Gulf national oil companies are unlikely to declare force majeure pre-emptively amid elevated geopolitical risks in the Middle East, following the reported sea traffic disruptions in the Strait of Hormuz, said SPI Asset Management managing partner Stephen Innes today. He added that such a move would typically require demonstrable inability to perform contractual obligations, and Gulf national oil companies would more likely manage nominations as well as adjust logistics first, stressing that disruptions in the Strait of Hormuz would not automatically trigger force majeure. Force majeure in the oil and gas industry is a […]

On Tuesday, March 3, 2026, President Donald Trump announced plans to form naval escorts 'as soon as possible' to help stranded vessels in the Persian Gulf transit the Strait of Hormuz, which has seen severely reduced traffic due to heightened risks from the ongoing conflict involving Iran. He also pledged to provide financial guarantees at reasonable prices through the US International Development Finance Corporation (DFC) to cover risks that private insurers are unwilling to take, aiming to restore commercial shipping flows. However, less than 24 hours earlier, US Navy officials stated there was no realistic possibility of deploying escort ships and questioned their effectiveness against potential Iranian threats. The article draws parallels to the failed 2023 US and EU operations in the Red Sea against Houthi forces during the Gaza conflict, suggesting similar efforts would likely fail against Iran. Normally, 100 to 120 vessels (including tankers, LNG carriers, chemical ships, container ships, and bulk carriers) pass through the strait daily, but on the previous Monday, only five daring ships crossed at night under their own responsibility: one Greek tanker, three small bulk carriers, and one asphalt carrier. Major shipping companies such as MSC, Maersk, CMA CGM, Hapag-Lloyd, and Cosco have refused to approach the Persian Gulf, opting instead for alternative ports with substantial war-risk surcharges of $1,500 to $4,000 per container. Routes between Asia and Europe are already bypassing the Suez Canal via the Cape of Good Hope, and now vessels avoid the Hormuz area entirely, offloading at safer ports and continuing overland at extra cost. This disruption stems from Iran's effective control and threats in the strait amid the broader Middle East war, severely impacting global energy and trade logistics.

Global oil prices have surged sharply following a series of attacks on tankers in the Gulf, with tensions escalating due to Iran's response to recent US and Israeli airstrikes. Brent crude saw an initial 13% jump to $82 per barrel, the highest since July 2024, before stabilizing at $77.56. The disruption of shipping routes, particularly in the Strait of Hormuz, has raised concerns of rising oil and shipping costs, which could further strain global inflation, especially in the UK. This comes at a time when inflation had been expected to ease. With the potential for a 10% rise in global oil prices, inflation could increase by an estimated 0.4 percentage points, as per research from the IMF. Additionally, shipping routes are facing delays as tankers in the region are rerouted or forced to anchor for safety. The situation threatens to increase shipping costs and disrupt energy markets, creating significant uncertainty about the future. Financial markets are already showing signs of strain, with the FTSE 100 expected to open lower. Meanwhile, airlines and hotels may face losses as the conflict impacts the Middle East region's airspace and tourism industry.

38 Indian Ships Stranded In Persian Gulf, 3 Sailors Killed.