World Maritime News
WMNF 15/04/2026
Brief Gulf shutdown manageable, but year‑long closure would upend global LNG flows, says think tank
According to the report from the Oxford Institute for Energy Studies (OIES), the duration of a potential shutdown in the Strait of Hormuz will be the deciding factor for the global energy landscape. A short disruption of LNG exports from the Middle East Gulf would be manageable for global markets, with limited price impact. However, a shutdown lasting six months to a year—such as a prolonged closure of the Strait of Hormuz—would severely disrupt global LNG flows, drive gas prices sharply higher, and cause demand destruction in Europe, India, and China. Even if fighting ends, continued security risks could delay LNG shipping, and replacing lost Qatari and UAE supply may take until 2028, largely through US capacity expansions.
Read more: Lloyd’s List
Hormuz crisis could curb box shipping demand but no fallout yet
The Hormuz crisis has not yet had a significant impact on global container shipping, although potential risks remain. Container freight rates on major trades are fluctuating within normal ranges: transpacific spot rates have risen recently, while Asia–Europe rates have peaked and edged down. US container imports in March were broadly in line with last year and remain historically strong. Capacity levels have been stable, suggesting rate movements are driven more by seasonal demand recovery and market sentiment than by supply constraints. While higher fuel costs from the Middle East conflict could eventually weigh on demand and increase surcharges, any major fallout for container shipping has so far been limited and indirect.
Read more: Lloyd’s List