There are reports that a few shipping lines may be reassessing routes, particularly the choke point of the Strait of Hormuz, given the heightened threat in the region. This could further add to the transportation cost to and from the region.

Two oil tankers have collided in the Strait of Hormuz, the world’s most critical oil checkpoint just off the coast of Iran. British maritime security monitor Ambrey said that the collision on Tuesday of the Adalynn and the Front Eagle is “not security-related,

The escalating Israel-Iran conflict has prompted shipowners to exercise an extra degree of caution in both the Red Sea and the Strait of Hormuz.