UN Warns Hormuz Crisis Will Leave Lasting Economic Scars Despite Shipping Recovery
The Strait of Hormuz has reopened after more than 100 days of conflict-driven disruption, with daily ship transits gradually recovering, though freight costs remain elevated and supply chains are still normalizing. UNCTAD warns that lasting economic scars — including persistent food inflation, higher transport costs, and energy price shocks — will continue to burden vulnerable economies long after shipping fully recovers.
Related news
Report Challenges National Security Case for Extended Jones Act Waiver
A new report from Navigistics Consulting, commissioned by the American Maritime Partnership, challenges the Trump administration's emergency Jones Act waiver, finding no evidence of military necessity or gasoline price relief while 137 domestic voyages have been conducted under the waiver since March 2026. The waiver, extended through August 17, 2026, has shifted domestic cargoes to foreign-flag vessels (including Chinese-built and Chinese-controlled ships), disrupting the U.S. domestic maritime market and affecting freight rate negotiations with Jones Act operators.
HOT PORT NEWS from GAC
The Port of Pointe Noire (Republic of Congo) is introducing new payment conditions for port services starting July 1, 2026, requiring full prepayment prior to berth authorization or vessel entry. This may cause delays or disruptions for vessels unprepared for the new financial requirements.
OpED: A Canadian Toll on U.S. Commerce
Canada's collection of tolls on cargo transiting the St. Lawrence Seaway to and from U.S. Great Lakes ports creates an ongoing cost disadvantage for American ports, carriers, and shippers, while the U.S. provides toll-free access through its portion of the system. The article calls for toll parity to be addressed in ongoing U.S.-Canada trade negotiations.