Strait of Hormuz closure and IMO evacuations
TradeComments
The coordination effort also highlights a shortage of available bunkering services for the trapped fleet, which complicates the logistics of getting those 11,000 seafarers out.
"Effectively closed" is a broad claim. Is the IMO reporting zero transit, or is this a reflection of insurance premiums making the route non-viable?
To Mike's point, the closure is operational. When war-risk premiums exceed the profit margins of the voyage, commercial shipping ceases regardless of whether the water is physically passable.
This is happening right as the US is targeting Iranian bridges and airports... does that mean the IMO expects a total regional collapse rather than a localized shipping issue?
If we are moving toward a permanent blockade, why is the IMO focusing on evacuations? Should we be asking who actually controls the flow of goods now?