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An Islamic revolutionary guard at the Islamic Revolutionary Guard accelerates along the Persian Gulf during the IRGC marine parade to commemorate the national day of the Persian Gulf, near the Bushehr nuclear power plant in the city of Seaport City in Bushehr, south of Iran, April 29, 2024.
Nurphoto | Nurphoto | Getty images
Some shipowners choose to avoid strategic importance Hormuz StraitAccording to the largest navigation association in the world, reflecting an increasing feeling of Industry malaise While the Israel-Iran conflict rages.
Israel surprise attack On Friday, Iranian military and nuclear infrastructure was followed by four days of war climbing between regional enemies.
This prompted the shipowners to show an additional degree of caution in the Red Sea and in the Strait of Hormuz, A critical gateway to the global oil industry – and a vital entry point for container ships calling for Dubai Jebel Ali Port de Dubai.
Jakob Larsen, head of security in Bimco, who represents the world shipowners, said that the Israeli-Iranian conflict seems to be forcing, causing concerns in the shipowners community and causing a “modest drop” of the number of ships sailing in the region.
Bimco, who generally does not encourage ships to stay away from certain areas, said the situation has introduced an element of uncertainty.
“The circumstances and the risk tolerance vary considerably to the other of the shipowners. It seems that most of the shipowners are currently choosing to proceed, while some seem to stay away,” Larsen told CNBC by e-mail.
“During periods of threats of increased security, freight and crew rate rates often increases, creating an economic incentive for some to take the risk of crossing conflict areas. Although these dynamics may seem rudimentary, it is the very mechanisms that have supported world trade by conflicts and wars for centuries,” he added.
The Strait of Hormuz, which links the Persian Gulf to the Oman Sea, is recognized as one of the The most important oil points in the world.
In 2023, the oil crosses the navigable track on average 20.9 million barrels per day, according to the US Energy Information Administration, representing approximately 20% of global consumption of oil fluids.
The incapacity of oil to cross the Hormuz Strait, even temporarily, can increase world energy prices, increase navigation costs and create significant delays.
In addition to the oil, the Hormuz Strait is also essential for world container trade. Indeed, the ports of this region (Jebel Ali and Khor Fakkan) are transhipment centers, which means that they serve as intermediate points in global expedition networks.
The majority of the volumes of goods in these ports are intended for Dubai, which has become a center for the freight movement with food services in the Persian Gulf, South Asia and East Africa.
Peter Tirschwell, vice-president of Maritime and Trade at S&P Global Market Intelligence, said that there had been indications that navigation groups were starting to “avoid” navigating in the Hormuz Strait in recent days, without naming any specific enterprise.
“You could see the impact that the Houthi rebels have on the expedition through the Red Sea. Even if there [are] Very few recent attacks against expedition to this region, however the threat has sent the vast majority of the container trade in southern Africa. This has happened since last year, “Tirswell said in CNBC”Squawk Box Asia“Monday.
“Oceanic carriers do not intend to return en masse to the Red Sea and therefore, the very threat of a military activity around a significant routing like the Hormuz Strait will be sufficient to considerably disturb the expedition,” he added.
The Israel-Iran conflict raises freight rates
Freight rates jumped after Israeli attacks against Iran last week. Indeed, the data published Monday of the KPLER analysis company showed that the freight rates of the Middle East Gulf oil makers in China jumped 24% on Friday at $ 1.67 per barrel.
The resumption of VLCC freight rates (very large raw carrier) reflected the largest daily move of the year up to date, although from a relative lull in June, and reaffirmed the level of risk perceived in the region.
KPLER analysts have said that more increase in freight rates is likely because the situation remains very unstable, although the risk of maritime war risk remains unchanged for the moment.
The missiles launched from Iran are intercepted as seen from Tel Aviv, Israel, June 16, 2025.
Ronen Zvulun | Reuters
David Smith, responsible for Hull and Marine responsibilities at the McGill insurance broker and his partners, said maritime insurance rates, at least for the moment, “remain stable without significant increase since the last hostilities between Israel and Iran”.
But that “could change considerably”, depending on whether there is an escalation in the region, he added.
“With war quotes, valid 48 hours before entering the excluded area of the” violation “, subscribers have the capacity to quickly increase premiums in accordance with the risk perceived,” Smith said by e-mail at CNBC.
The Hapag-Lloyd Ag Leverkusen Express Sails outside the deepwater port in Yangshan, operated by Shanghai International Port Group, August 7, 2019.
Bloomberg | Bloomberg | Getty images
A spokesperson for the lining containing in German Table-Voyd said that the threat level of the Hormuz strait remains “significant”, but without immediate risk for the maritime sector.
Hapag-Lloyd said that he did not provide for more important problems to cross the navigable way for the moment, while recognizing that the situation could change in a “very short” period.
The company added that it had no immediate plans to cross the Red Sea, noting that it has not done so since the end of December 2023.
– Lori Ann Larocco of CNBC contributed to this report.
