Global shipping group Hapag-Lloyd has suspended all tanker movements through the Strait of Hormuz, a critical maritime chokepoint that carries roughly one-fifth of the world’s oil and gas shipments.
The German-based company said the halt would remain in place “until further notice,” warning customers of likely delays, re-routing and schedule adjustments.
The decision heightens concerns over potential disruptions to crude exports from major Gulf producers, including Saudi Arabia, Qatar, Bahrain and the United Arab Emirates, all of which rely on the strait to move supplies from the Persian Gulf to global markets. Any sustained interruption could trigger a sharp rise in oil prices when trading resumes late Sunday night UK time.
Other major operators are taking similar precautions. France’s CMA CGM has suspended passage through the Suez Canal, Japan’s Nippon Yusen has instructed its fleet to avoid the Hormuz Strait, and Maersk is rerouting container traffic via the longer route around southern Africa.
Reports indicate that Iranian naval forces have advised vessels not to transit the strait, with as many as 150 tankers reportedly backed up on either side of the narrow waterway. However, no formal closure has been declared. Separately, an oil tank was reportedly struck off the coast of Oman.
Energy analysts suggest the global market could absorb a short-term disruption, but a prolonged shutdown could push crude prices toward $100 per barrel, raising the risk of renewed global inflation pressures.
Hapag-Lloyd said it is closely monitoring what it described as a highly fluid situation and remains in continuous contact with authorities and security partners.
