Security worries hinder Hormuz and Bab el-Mandeb
Concerns are increasing in the global maritime transport sector due to security tensions in the Middle East region, leading to a decline in ship transits through two strategic passages: the Strait of Hormuz and the Bab el-Mandeb. Fearing attacks or security incidents, shipping companies have altered their routes and delayed departures, which has raised transportation costs and insurance prices. These developments could have broader economic impacts, especially on oil markets and essential commodities, amidst ongoing military tensions that threaten international trade movements and global economic stability.
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