World News
Hapag-Lloyd Halts Transits Through Strait of Hormuz After Iran Strikes
Container line Hapag-Lloyd is halting all transits through the Strait of Hormuz following US and Israeli strikes on Iran.
Hapag-Lloyd's transits through the key Middle East waterway will be suspended until further notice, it said in a customer advisory note on Saturday.
The firm cited 'the official closure of the Strait of Hormuz by relevant authorities amid the evolving security situation in the region'.
The US and Israel attacked a series of military facilities in Iran on Saturday, with Iran responding with strikes on US bases across the Middle East.
Iran now appears to be seeking to close the Strait of Hormuz to all maritime traffic.
"The safety and security of our crews, vessels, and your cargo remain our highest priority," Hapag-Lloyd said.
"This measure is therefore not discretionary but a necessary response to the current conditions and regulatory restrictions.
"We are closely monitoring developments, which are very fluid, and remain in continuous contact with authorities and security partners.
"As a result, services calling ports in the Arabian Gulf may experience delays, rerouting, or schedule adjustments."
Key Bunker Prices More
| 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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