Global shipping crisis: Strait of Hormuz blockade forces 90% drop in traffic, reroutes trade to Africa
Iran retaliated against U.S.-Israeli airstrikes by effectively shutting down the Strait of Hormuz—a critical chokepoint handling 20% of global oil supply—threatening to attack any ships attempting passage.
Daily maritime traffic plummeted from 138 ships to just 4, with oil tanker movements down 90%, paralyzing exports from Saudi Arabia, Iraq and the United Arab Emirates.
Major firms like Maersk and Hapag-Lloyd rerouted shipments around Africa’s Cape of Good Hope, adding 10–20 days to delivery times and spiking fuel costs.
Iraq’s Basra Port halted all crude exports (normally 3.5M barrels/day). QatarEnergy suspended LNG production after drone strikes, worsening global shortages. Oil prices could surge to $120–130/barrel if the blockade lasts beyond 21 days.
Europe faces LNG supply shortages as tankers divert to higher-paying Asian markets, while experts warn the Cape route’s hazards (rough seas, piracy, limited infrastructure) may become a permanent workaround if Middle East tensions persist.
Read Full Article: https://www.naturalnews.com/2026-03-13-hormuz-blockade-forces-huge-drop-shipping-traffic.html
