Shipping disruptions through the Strait of Hormuz, one of the world’s busiest maritime corridors, are sending ripple effects far beyond the Middle East, threatening energy markets, freight costs and global supply chains, a United Nations Conference on Trade and Development (UNCTAD) study has warned.
Ships must co-ordinate with Iran's navy to pass through the Strait of Hormuz, reported the country's Mehr news agency on Thursday citing the foreign ministry. This comes after its new Supreme Leader Mojtaba Khamenei's threat to keep this vital passage shut as leverage against the US and Israel.
Shipping across the Gulf and the strategic Strait of Hormuz remained severely disrupted as attacks on commercial vessels intensified amid the conflict between Iran and US–Israeli forces.
German shipping company Hapag-Lloyd said projectile fragments have hit the Liberia-flagged container vessel 'Source Blessing' near the Strait of Hormuz.
In the Strait of Hormuz, hundreds of ships appear on maps where they should not exist. GPS signals that tankers rely on to navigate safely are being scrambled, revealing a new battlefield of invisible electronic warfare. What was once a tool for convenience has become a potential hazard, says an expert.
Shipping through the strategic Strait of Hormuz remained severely disrupted on Wednesday as Iran intensified actions aimed at blocking the critical waterway, including attacks on tankers and suspected mine-laying operations
Tensions in the Gulf escalated sharply after reports that Iran had begun laying naval mines in the strategically vital Strait of Hormuz, prompting warnings from President Donald Trump and US military strikes against suspected mine-laying vessels.
US President Donald Trump on Monday that the war against Iran could end soon, but threatened to escalate if Iran blocked oil shipments from the Middle East.
Aramco warned the Strait of Hormuz disruption from the Iran war could have “catastrophic consequences” for global oil markets and trigger ripple effects across shipping, insurance, aviation, agriculture and automotive industries.
Iran's Revolutionary Guards warned on Saturday that no vessel would be allowed to pass through the Strait of Hormuz, a chokepoint through which nearly a fifth of the world’s oil supply passes.
