📈 Strait of Hormuz: High Risks Persist for Global Maritime Trade

Despite a tentative peace agreement, the maritime sector faces continued volatility and elevated operational risks for seafarers. • Critical Security Situation: IMO has verified 46 attacks on merchant shipping since late February, resulting in 14 confirmed seafarer deaths. • Operational Challenges: Industry bodies warn that uncertainty regarding insurance, legal complexities, and geopolitical tensions remains high. • Safety Priority: Major associations (BIMCO, ICS, Intercargoo, Intertanko) emphasize that freedom of navigation and the safety of civilian mariners are non-negotiable baselines for global trade. • Impact on Crews: Despite industry pragmatism, crews continue to bear the heaviest burden, with recent incidents involving vessels like the Settebello and Jalveer underscoring the risks of kinetic enforcement. Industry Outlook: Shipowners are urged to elevate due diligence and prioritize crew safety above all else, as rebuilding confidence requires strict adherence to the Law of Armed Conflict and visible restraint from all regional parties.