Strait of Hormuz: the new crisis shaking global trade and redefining risks in international logistics

As we mentioned in a previous note, the Strait of Hormuz, a key maritime artery through which nearly 20% of the oil and liquefied natural gas (LNG) traded worldwide, is once again setting off global alarms. Following a joint bombing by the the United States and Israel on targets in Iran, and the subsequent death of that country's supreme leader, Tehran responded with fire that has escalated the conflict.  

This strait, an irreplaceable bottleneck for energy flow, has become a point of maximum tension, with immediate impacts on maritime transport, energy markets, and global supply chains.  

In response to the escalating insecurity in the region: 

• Maersk, one of the world's largest shipping groups, announced the immediate suspension of all its vessel transits through the Strait of Hormuz, prioritizing “the safety of crews, vessels, and cargo.”  
• Other major lines such as Hapag-Lloyd, MSC, CMA CGM, and Nippon Yusen have suspended or rerouted their operations until further notice, impacting both trade routes and regular container services.  
• In several areas of the Persian Gulf, vessels remain anchored or seeking refuge as maritime traffic remains reduced.  

Although there is no formal declaration of a legal closure of the strait under international law, maritime authorities have warned that communications received by some vessels instruct them to avoid passage for security reasons, resulting in a de facto operational halt of the corridor.  

1. Supply Chain Disruptions 

The Strait of Hormuz is not only crucial for oil and LNG; its impact is also felt in general cargo transport and containers connecting Asia, Europe, and America with the Middle East. 

• Maritime traffic has registered a drop of over 70% in recent days, with numerous vessels turning back or halting.  
• With traditional routes closed, logistics companies are exploring much longer diversions around the Cape of Good Hope, which can add weeks to transit time and exponentially higher costs.  

2. Energy Markets Under Pressure 

Oil prices are already reacting: 

• Brent crude rapidly rose by over 10%, approaching recent peak levels as supply risk becomes entrenched.  
• International analysts project that, should this situation persist or escalate, prices could exceed 100 dollars per barrel, directly impacting fuel inflation and global transport costs.  

Although America does not directly depend on trade through the Strait of Hormuz for its internal energy, the ripple effects are palpable: 

• Increases in fuel and energy prices, fertilizers, and other petroleum-derived products, impacting transport costs and overall inflation.  
• Exporting and importing companies must anticipate logistical delays and additional freight costs, effects that can replicate across diverse sectors such as agriculture, automotive, and technology. 

Understanding the distinctions of each insurance policy is essential to comprehend which operational aspects are effectively protected. 

• Engineering Insurance: specifically focuses on machinery breakdown and internal operational failures. For instance, if a production line halts due to an internal motor failure or electrical damage to critical equipment, this coverage is ideal as it is designed to respond to such unforeseen events. 
• Operational All-Risk Insurance: can cover broad material damages but does not always comprehensively address the specific technical risks of industrial equipment. For instance, if a fire or an external event impacts the industrial facility, installations, or cargo, this type of policy typically offers broader coverage for general material damages. 

1. Comprehensive Review of War Risk Coverages

Companies relying on vulnerable routes must: 

• Confirm whether their current policies cover armed conflict events or route closures, 
• Evaluate the need for supplementary war risk coverages, 
• Establish protocols for the safe diversion of cargo and crews.

2. Flexible Logistics Planning

The current scenario underscores that no single critical path exists without a replacement; resilience is achieved through: 

• Implementing Plan B and Plan C for maritime, rail, or air routes, 
• Engaging local partners and global logistics operators capable of adapting to rapid changes, 
• Anticipating political escalations in supply chain risk analysis.

3. Continuous Monitoring of Geopolitics and Markets

The interrelationship between military events and the economy is now more direct than ever:

• A regional conflict can rapidly escalate into a global impact on pricing, logistics, and insurance, 
• Businesses that successfully integrate geopolitical analysis with commercial decisions gain a competitive advantage. 

The Strait of Hormuz crisis in March 2026 is not merely a Middle East news item: it serves as a reminder that in a hyperconnected world, geopolitics, energy, commerce, and logistics are intricately linked. 

For operators, exporters, and importers, the key is not merely to react, but to anticipate, assess, and mitigate risks. Risk prevention mechanisms and insurance strategies are not an expenditure, but an essential component of business resilience in an era of global volatility. 

Today, more than ever, reviewing coverage, evaluating exposure to political risks, and anticipating scenarios is not optional: it is integral to corporate competitiveness. 

👉 If your company operates in international trade and you wish to analyze how these events may impact your operations, our people can assist you in evaluating risks and designing appropriate coverage. Contact us!