Global shipping industry faces crisis due to Strait of Hormuz closure
Story essentials
Oil-producing nations, shipping companies, and tanker operators
Strait of Hormuz, Persian Gulf
Since March 2026
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COMPAMIR Editorial Team
The COMPAMIR editorial team brings together public reporting and links to the original coverage. We update the page as new information emerges.
Read our editorial policy- Earlier version 29/13/2026, 7:21:17 PM
Closure of the Strait of Hormuz has disrupted global oil supply chains. Second-hand tanker prices have surged by up to 40% due to high demand. Freight rates for VLCCs have increased significantly, reaching over $36 million per voyage. Oil-producing nations and major importers are aggressively acquiring tanker fleets.
- Earlier version 19/13/2026, 6:51:11 PM
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