Stay on top of port closures, security incidents, congestion events and freight rate movements impacting global shipping. Updated continuously from verified industry sources.
The Strait of Hormuz remains largely closed due to an ongoing US-Iran conflict now in its third month, with hundreds of vessels and approximately 20,000 seafarers trapped in the Gulf unable to leave without safety guarantees. Daily transit traffic — normally averaging 125 vessels — has been severely disrupted, with ship operators, insurers, and flag registries all under mounting operational and safety pressure.
The closure of the Strait of Hormuz (SoH) due to ongoing conflict is causing severe structural disruptions to offshore maritime operations across the Middle East Gulf, including contract terminations for OSVs in Qatar and the UAE (up to 15 vessels), stranded newbuilds in the Gulf of Oman, and stalled EPC/construction projects due to inability to transit equipment from Asia. Insurance costs have surged up to 10x, and vessel maintenance costs are significantly elevated due to supply scarcity within the Gulf region.