News
The sudden closure of the Strait of Hormuz following the escalation of the conflict in Iran over the weekend will affect 650,000 TEUs of weekly container traffic handled at Middle East Gulf ports, according to a report compiled by Linerlytica. Although these account for only 3.3% of total global throughput, disruptions arising from the reconfiguration of Hormuz-related services would affect up to 10% of the global fleet.
As at Monday, there are 132 active containerships with a combined capacity 458,000 TEUs that are trapped in the Middle East Gulf, accounting for 1.4% of the global fleet. They form part of the 3.4 million TEUs in total capacity that are operated on the routes passing the Strait of Hormuz or 10% of the global fleet. A prolonged closure of the Hormuz would lead to a reconfiguration of these services and result in a short-term tightening in vessel supply and box equipment as well as increased congestion at Asian ports.
