Rising tensions between Israel and Iran are prompting shipping companies to avoid the Strait of Hormuz, affecting global trade in oil and commodities

In the context of the escalating military conflict between Israel and Iran, more and more shipping companies are choosing to avoid the Strait of Hormuz, a strategic route for world trade. The International Shipowners' Association has noticed a decrease in traffic, although most vessels continue to sail through the area. Rising crew salaries and transport fares are a consequence of threats, and deviation from this critical route could cause delays and cost increases. Any deterioration in the situation can have global effects on energy and goods prices.