Energy and shipping costs kept rising after the Jones Act waiver took effect, as disruption in the Strait of Hormuz continued to lift oil prices, freight rates and insurance costs.
Boskalis and Van Oord have voluntarily repatriated employees and families from the Middle East after war broke out in the region, while other Dutch companies and Shell also moved non-essential staff.
COSCO has reopened Gulf container bookings, but Hormuz controls, stranded ships and weaker freight rates show pressure remains across the regional shipping market.
China called for de-escalation in the Middle East as tanker traffic through the Strait of Hormuz dropped sharply, Chinese-linked shipping slowed, and concerns grew over energy imports and export demand.
CMA CGM is deploying alternative cargo corridors through the UAE, Saudi Arabia and Oman to keep Gulf logistics moving without relying on the Strait of Hormuz.
The International Maritime Organization said about 3,200 ships carrying around 20,000 seafarers are confined west of the Strait of Hormuz ahead of an emergency council meeting in London on 18–19 March 2026 as attacks on merchant vessels continue across the Gulf region.
Shipowners are skipping or rescheduling ship-naming ceremonies at South Korean shipyards as the United States-Iran war disrupts vessel operations, flight schedules and event attendance linked to the Middle East.
Three merchant vessels including MAYUREE NAREE, One Majesty, and Star Gwyneth were reportedly damaged on 11 March near the Strait of Hormuz, raising renewed concern over maritime security and crew safety in one of the world’s most critical shipping corridors.
The United States introduced a $20 billion maritime reinsurance programme for eligible vessels in the Gulf, aiming to support trade flows and war-risk cover through the Strait of Hormuz.
