World's Major Shipping Companies Suspend or Reorganize Operations Due to Strait of Hormuz Closure
Portafolio Journalist 03/02/2026 07:21 Updated: 03/02/2026 07:22
TL;DR
- Major Asia-Pacific shipping companies are suspending or reorganizing operations in the Strait of Hormuz.
- The decision comes amid escalating conflict in the Middle East and warnings from Iran about maritime safety.
- China, a major oil importer, faces energy risks due to its dependence on the strait, through which a fifth of global crude passes.
- Japanese shipping companies like Mitsui O.S.K. Lines, Nippon Yusen, Kawasaki Kisen, and ONE have altered their routes or suspended activity.
- South Korea and Taiwan's shipping companies are also taking measures to ensure the safety of their vessels.
- The Strait of Hormuz is a crucial chokepoint for global energy trade, with about 20% of the world's oil and significant LNG passing through it.
- Brent crude oil prices surged following the events, impacting major oil-producing nations that control the strait.