World News
10% of Global Container Fleet Caught in Strait of Hormuz Blockage: ONE
A significant share of the global container fleet is being held up by the current near-shutdown in Strait of Hormuz transits following strikes on Iran over the weekend, according to container line ONE.
About 10% of the global container fleet is caught up in the current situation, where Strait of Hormuz transits have dropped to a near-standstill, news agency Reuters cited ONE CEO Jeremy Nixon as saying at an industry event on Monday.
Container ships account for about 100 of the 750 ships backed up around the Strait of Hormuz, Nixon added, according to the report.
Sector specialist Alphaliner lists current global container capacity at about 33.9 million TEU.
The US and Israel launched coordinated strikes on targets in Iran on Saturday, killing Ayatollah Ali Khamenei and other senior officials. Iran retaliated with attacks on US bases across the region and is seeking to disrupt commercial shipping through the Strait of Hormuz.
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| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 521.50 | 8.50 | 709.50 | 1.50 |
| Rotterdam | 489.50 | 9.50 | 720.00 | 2.00 |
| Houston | 494.50 | 1.50 | 710.00 | 4.00 |
| Fujairah | 519.50 | 10.00 | 777.50 | 3.50 |
| Global 20 Ports Average | 543.50 | 7.00 | 797.50 | 5.50 |
| Global 4 Ports Average | 506.00 | 7.00 | 729.00 | 2.50 |
| Global Average Bunker Price | 576.00 | 3.00 | 829.50 | 2.00 |
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