Stay on top of port closures, security incidents, congestion events and freight rate movements impacting global shipping. Updated continuously from verified industry sources.
Panama Canal congestion has reached its yearly high in 2026, with wait times up 50% year-over-year and a scheduled dry chamber overhaul on Gatun Locks (June 9–17) set to halve daily transit slots from ~36–40 down to 16, severely worsening delays for tankers, bulk carriers, and container ships. The backlog has triggered multiple Jones Act waivers for US domestic shipments and may prompt widespread rerouting via Cape of Good Hope or Cape Horn, with congestion risks extending beyond June due to potential El Niño water-level constraints.
The Strait of Hormuz remains severely disrupted due to the ongoing US-Iran conflict, with tanker traffic at roughly one-tenth of pre-war levels and ~65% of outbound laden tankers transiting in "dark" (AIS-off) mode as of May 2026. Over 13 million barrels per day of oil remain stranded within the Gulf, with insurance premiums elevated, oilfields shut in, and a full recovery contingent on political resolution and logistics normalization.
The Strait of Hormuz is effectively closed due to ongoing Middle East conflict, with shipping volumes near zero and oil, LNG, and refined product exports severely curtailed — Trafigura estimates this represents the largest energy crisis in history, with losses of ~14 million barrels per day. Even a near-term peace agreement would not quickly restore maritime trade flows, as vessel repositioning, depleted inventories, and disrupted logistics chains are expected to weigh on tanker, LNG, and commodity shipping for months.
The Strait of Hormuz remains near-totally closed due to an ongoing US-Iran conflict, with tanker traffic running at roughly one-tenth of pre-war levels; around 65% of outbound laden tankers are transiting in "dark" (AIS-off) mode, severely distorting cargo visibility and market transparency. Over 13 million barrels per day of oil exports remain stranded in the Persian Gulf, with a slow and fragile drawdown underway, while insurance risks, logistical constraints, and potential Iranian tolling continue to threaten any return to normalcy.
The closure of the Strait of Hormuz due to the Iran war has cut off approximately 25% of global oil seaborne trade and nearly 20% of global LNG trade, causing major disruptions to maritime shipping routes through the world's most critical oil chokepoint. Australia, which imports ~90% of its oil needs, is particularly exposed, while global shipping flows for Middle Eastern energy exports are severely curtailed.