Stay on top of port closures, security incidents, congestion events and freight rate movements impacting global shipping. Updated continuously from verified industry sources.
Delfin Midstream has reached a Final Investment Decision for the first U.S. offshore floating LNG export facility (FLNG 1), located ~40 miles off the Louisiana coast, with a capacity of 4.4 mtpa and expected first production in 2030. This project will introduce a new maritime LNG export hub in the Gulf of Mexico, generating significant vessel traffic (LNG carriers, support vessels) in the area from construction through operations.
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 Strait of Hormuz is effectively closed following U.S. and Israeli strikes on Iran, with Iran selectively allowing passage and potentially mining the waterway, severely disrupting approximately one-fifth of global oil and LNG shipments. The EU is proposing to expand its Aspides naval mission to lead mine-clearing operations in the strait as part of a Franco-British coalition, but no timeline for restoration of free navigation has been established.
Escalating US-Iran hostilities have kept the Strait of Hormuz largely closed for over three months, severely disrupting global oil and LNG shipments that previously transited the route. Iranian attacks on vessels, mine-laying attempts, and strikes near Qeshm Island, alongside US defensive strikes, continue to threaten maritime traffic across the Gulf region, with no imminent resolution in sight.
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.