The fact global shipping now treats “possible closure of the Strait of Hormuz” as something that can be worked around is honestly kind of insane on its own.
Where does most global shipping go to and from?
China.
Who isn’t affected by the closure of the strait at all?
China.
Good work Trump, America First!
If that is the explanation, it sure isn’t made clear by this shit article.
China depends on Iranian oil, which is why Iran tried the partial blockade to let friendly ships through. That forced the US to try and enforce a full blockade to prevent China from being less affected than everyone else.
then what is the fucking problem?
This is a really shoddily written article. Bad. Basically he’s saying that fuel costs will remain high and from a business standpoint the risk doesn’t go to zero just because Trump says everything is rainbows. Therefore shipping faces increased costs, which raises prices for consumers, which hurts demand, which lowers shipping volume. And that systemic slowdown doesn’t disappear overnight because Trump says yippee.
I think. If the article weren’t total shit, maybe it would be clearer.
The billionaires are telling us we will continue to pay the increased costs. Prices never went back to normal after lockdowns ended. They are doing the same shit.
Fuel/oil Maersk, if I recall, does container shipping and has other ways of moving boxes, but all of them burn fuel
And oil isnt moving because the straight is closed.
Yes, so you’d think that reopening the strait should help. Maybe they just mean not right away? It’s unclear.