The conflict in the Middle East has reached a critical juncture for the stability of global shipping. The Strait of Hormuz, a vital route for energy supplies and trade in the Gulf, is in a vulnerable position, forcing international operators to urgently rethink their transport strategies.

For the freight forwarding sector and shippers, this situation not only leads to delays but also poses an unprecedented economic challenge that affects the competitiveness of international supply chains.

The reshaping of global routes

Security in strategic sea lanes is vital to the stability of international trade. The risk of attacks on ships in the Strait of Hormuz is forcing the global fleet to urgently seek alternative shipping routes. In this scenario, the route around the Cape of Good Hope is establishing itself as the only safe route for the transit of goods. This change of route is no minor adjustment, as it involves circumnavigating the entire African continent, adding between ten and fifteen days of sailing time between Asia and the Mediterranean and increasing fuel costs.

The new geographical reality is having a direct impact on strategic ports such as Valencia and Algeciras, which have become two of the first stopover points following the long journey across the African continent. As a result of these longer routes, the availability of empty containers at ports of origin has fallen, making it difficult to load new cargo. Faced with this lack of predictability regarding arrival dates, companies have been forced to redesign their inventory plans and move away from the ‘Just-in-Time’ management model to avoid stock shortages that could bring their production to a standstill.

The critical factor regarding fuel

The economic impact is the most immediate and quantifiable consequence of this crisis, manifesting itself through the energy market. In this context, the Strait of Hormuz plays a decisive role, as approximately 20% of the world’s oil passes through this waterway. Any threat or blockade at this strategic chokepoint automatically triggers a surge in crude oil prices on international markets, leading to an immediate rise in marine fuel costs.

According to recent industry figures, the additional costs resulting from these blockages and diversions can amount to as much as €340 million a day worldwide. For shippers, this translates into emergency surcharges that are applied to ensure the viability of transport services.

At Stock Logistic, a full-service logistics provider, we work to mitigate this volatility through forward planning, recognising that operational agility is a key tool for navigating an unpredictable market.