Shipping braces for prolonged turmoil as Hormuz crisis fuels inflation and supply strain

OPTIMISM is in short supply as geopolitical turmoil deepens and the Hormuz crisis adds fresh strain to global shipping. Experts warn the fallout will be long‑lasting, compounding the economic damage left by the pandemic.

“Tonne-miles are increasing, but once we get to demand destruction, then the demand destruction will be greater than increasing tonne-mile input.” MSI’s Adam Kent told delegates at the Lloyds List Intelligence seminar in Singapore.