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Hormuz Strait remains effectively closed, adding further pressure on global energy prices
Despite no shortage of political statements and media reports that an imminent opening of the Strait of Hormuz is close, the reality is that the strait remains effectively closed. The US launched Operation Freedom on 4 May to evacuate stranded commercial vessels in the Gulf; however, the initiative was shelved the following day, with the US announcing it would pause the operation at the request of the Pakistani government, citing progress in peace talks.
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Israel and Iran armed conflict joins US Tariffs at the volatility and chaos table
The global transport and logistics landscape continues to be plagued by an array of geopolitical impacts that effectively have squashed any hope of stability for the remainder of the year. While temporary US tariffs deals are entered into at a steady pace, the fact remains that uncertainty is ever present, pushing global supply chains into a “stop & go” mode, spiced with occasional demand ketchup effects.