Stay on top of port closures, security incidents, congestion events and freight rate movements impacting global shipping. Updated continuously from verified industry sources.
US blockade of Iran has caused Iranian oil exports via the Gulf to plunge over 90%, with only four tankers carrying petrochemicals departing in May 2026. This represents a major disruption to tanker traffic in the Persian Gulf region, severely curtailing Iranian maritime oil export routes.
The Strait of Hormuz has been blockaded following an outbreak of war in the Middle East (late February 2026), causing a 22% drop in VLGC LPG exports from the region and driving major rerouting via the Cape of Good Hope. The Panama Canal is experiencing near-full capacity and sharply elevated transit auction fees (up to USD 4M per transit), further reducing VLGC availability and causing congestion-driven disruptions on key LPG trade routes.
The Strait of Hormuz remains closed due to an ongoing conflict involving Iran, causing approximately 55 tankers to wait in holding positions near the Indian Ocean and East Africa, with major disruptions to Persian Gulf oil export flows. Tanker owners are strategically repositioning vessels within 3–5 sailing days of the Gulf in anticipation of a potential reopening, while the timeline and conditions for resumption of normal transit remain highly uncertain.