Global shipping market shaken by Hormuz closure as freight volatility and bunker costs surge

Chart showing global shipping market container freight rate movements in 2026 across Shanghai-Europe, Shanghai-Med, Shanghai-US coasts, and Shanghai-Persian Gulf routes

The global shipping market was hit by a major shock in March as the closure of the Strait of Hormuz disrupted trade flows, lifted bunker prices, and drove sharp freight volatility across sectors. Tankers surged on longer voyages and tighter supply, while containers, dry bulk, LNG, and LPG faced rising costs and growing uncertainty. The global shipping market experienced a […]

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