For anyone in the import business, the economic risks from the war in the Middle East arrive by sea -- and that goes for everyone who buys their products, too.
As the war rages into its third week, the effective closure of the strategic Strait of Hormuz has upended not just the oil and gas industries but worldwide transport via container ship, the symbol of globalised trade.
kAmyFDE 2D< uC6?49 :>A@CE6C t>>2?F6= q6?:49@F[ H9@ :D ?6CG@FD=J H2E49:?8 E96 H2CVD :>A24E @? AC:46D 7@C E96 =2H? 7FC?:EFC6 96 :>A@CED 7C@> r9:?2 2?5 D6==D @?=:?6]k^Am
kAmQ~FC AC:46D 92G6?VE 8@?6 FA J6E[ 3FE :7 E96 H2C 8@6D @? 7@C >@?E9D[ H6V== 6:E96C 92G6 E@ 4FE @FC >2C8:?D @C C2:D6 @FC AC:46D[Q 96 E@=5 pu!]k^Am
kAm%96 |:55=6 t2DE 244@F?E65 7@C ;FDE h]g A6C46?E @7 8=@32= 4@?E2:?6C EC256 =2DE J62C[ 244@C5:?8 E@ qC:E:D9 >2C:E:>6 4@?DF=E2?4J r=2C<D@?D[ 4:E65 3J q=@@>36C8]k^Am
kAmqFE :? 2 H@C=5 @7 :?EC:42E6 EC256 =:?<D[ E96 492@D F?=62D965 3J E96 H2C 92D <?@4<\@? 67764ED 2C@F?5 E96 8=@36]k^Am
kAmxC2?VD 56 724E@ 4=@DFC6 @7 E96 $EC2:E @7 w@C>FK 92D 3=@4<65 E9@FD2?5D @7 4@>>6C4:2= D9:AD[ >62?:?8 >2?J 42??@E C6249 E96 C:89E A@CE 2E E96 C:89E E:>6]k^Am
kAmQ%96C6VD >6C492?5:D6 D:EE:?8 :? x?5:2 E92EVD DFAA@D65 E@ 36 56=:G6C65 :? $2F5: pC23:2[Q E96 49:67 6I64FE:G6 @7 >2C:E:>6 EC2?DA@CE 8:2?E r|p rv|[ #@5@=A96 $2256[ E@=5 uC6?49 ?6HDA2A6C {6 u:82C@]k^Am
kAm%96 724E E92E 4:G:=:2? D9:AD 92G6 364@>6 E2C86ED :? E96 vF=7 6I246C32E6D E96 D:EF2E:@?]k^Am
kAm%H6?EJ 4@>>6C4:2= D9:AD[ 2>@?8 H9:49 ?:?6 @:= E2?<6CD[ 92G6 366? 2EE24<65 D:?46 E96 H2C 3682? H:E9 &$\xDC26=: DEC:<6D @? xC2? @? u63CF2CJ ag[ @C 92G6 D:8?2=65 :?4:56?ED[ 244@C5:?8 E@ pu! >@?:E@C:?8 H:E9 qC:E:D9 >2C:E:>6 D64FC:EJ 8C@FA &z%|~ 2?5 @E96C D@FC46D]k^Am
k9am\ $FC492C86D \k^9am
kAmp?5 E96 DFC86 :? 7F6= AC:46D 42FD65 3J E96 3=@4<256 @7 E96 DEC2:E \\ E96 FDF2= D9:AA:?8 =2?6 7@C 2C@F?5 a_ A6C46?E @7 8=@32= @:= 2?5 =:BF67:65 ?2EFC2= 82D \\ :D 42FD:?8 EC2?DA@CE 4@>A2?:6D E@ :>A@D6 DFC492C86D]k^Am
kAmq@E9 r|p rv| 2?5 :ED 4@>A6E:E@C wJF?52: |6C492?E |2C:?6 Ww||X 92G6 ;24<65 FA AC:46D 3642FD6 @7 E96 H2C[ q6?:49@F D2:5]k^Am
kAmQw|| :D 492C8:?8 2? 6IEC2 Sab_ A6C 4@?E2:?6C :? 6>6C86?4J 7F6= DFC492C86D[Q 96 D2:5] Qr|p rv| :D 492C8:?8 2 S`dd DFC492C86]Qk^Am
kAmw6 :D ?@ DEC2?86C E@ E96 >2C<6E]k^Am
kAmw:D 3FD:?6DD D2GGJ[ 96 D2:5[ 4@?D:DED @7 Q<?@H:?8 9@H E@ 3FJ 2?5 9@H E@ EC2?DA@CEQ]k^Am
kAmw:D 4@>A2?J p@D@> :>A@CED 2C@F?5 c__ 4@?E2:?6CD 2 >@?E9]k^Am
kAmQx <?@H 9@H E@ E2<6 25G2?E286 @7 D9:AA:?8 @AA@CEF?:E:6D[Q 96 D2:5]k^Am
kAmx? A6246E:>6[ 96 ;F>AD 2E E96 492?46 H96?6G6C D9:AA:?8 4@>A2?:6D H:E9 DA2C6 42A24:EJ @776C 5:D4@F?ED :? 7C6:89E C2E6D]k^Am
kAmr@?G6CD6=J[ Q:? E96 3FDJ D62D@?[ ;FDE 367@C6 r9:?6D6 }6H *62C[ 7@C 6I2>A=6[ H6 2=H2JD D66 6IEC2 766D[Q 96 D2:5]k^Am
kAmqFE E96J FDF2==J C6EFC? E@ ?@C>2= D@@? 6?@F89]k^Am
kAm}@H[ D9:AA:?8 AC:46D <66A 4=:>3:?8] %96 4@DE @7 D6?5:?8 2 4@?E2:?6C 7C@> pD:2 E@ tFC@A6 92D ;F>A65 7C@> Sa[d__ 367@C6 E96 H2C E@ 2D >F49 2D Sc[___[ 96 D2:5]k^Am
kAmp?5 AC:46D C:D6 E96 =@?86C E96 C@FE6 8C@HD]k^Am
kAm|@DE 4@?E2:?6C D9:AD 2C6 2=C625J C6BF:C65 E@ 2G@:5 E96 #65 $62 2?5 $F6K r2?2= @G6C 762CD @7 2EE24<D 3J *6>6?VD xC2?\324<65 w@FE9: C636=D \\ >2<:?8 E96 C@FE6 E@ tFC@A6 =@?86C[ 2?5 7F6= 4@DED >@C6 6IA6?D:G6]k^Am
k9am\ V|@F?E2:?D @7 4@?E2:?6CDV \k^9am
kAmx7 E96 H2C 5C28D @?[ q6?:49@F D2:5 96 762CD >@C6 DFC492C86D 7@C D64FC:EJ C:D<D[ D9:A 3=@4<286D[ :?DFC2?46[ 2?5 DE@C:?8 >6C492?5:D6 DEC2?565 72C 7C@> :ED 7:?2= A@CE @7 42==]k^Am
kAmx? E96 |:55=6 t2DE[ D9:AA:?8 4@>A2?:6D 92G6 E2<6? E@ FD:?8 =@CC:6D E@ 86E 4@?E2:?6CD E@ E96:C 56DE:?2E:@?D]k^Am
kAm%96J 2C6 2=D@ C65:C64E:?8 D9:AD E@H2C5 tFC@A6 2?5 p7C:42 2?5 D66<:?8 2=E6C?2E:G6 A@CED 2=@?8 ?6H 4@CC:5@CD]k^Am
kAmx? E96 vF=7[ H96C6 4@?E2:?6C D9:AD 42? ?@ =@?86C 2446DD E96 4CF4:2= A@CE @7 sF32:[Â r|p rv| :D F?=@25:?8 >6C492?5:D6 ;FDE 367@C6 E96 $EC2:E @7 w@C>FK 2E 2?@E96C &?:E65 pC23 t>:C2E6D A@CE[ z9@C u2<<2?]k^Am
kAmQ%96 C:D< :D 86EE:?8 DEF4< H:E9 >@F?E2:?D @7 4@?E2:?6CD E92E 3=@4< A@CE E6C>:?2=D 2?5 42FD6 9F86 56=2JD[Q E96 rt~ @7 D9:AA:?8 8:2?E |26CD<[ ':?46?E r=6C4[ E@=5 ?6HDA2A6C {6 |@?56]k^Am
kAmu@C D@>6[ :E 3C:?8D 324< 325 >6>@C:6D @7 E96 r@G:5 A2?56>:4[ C6G:G:?8 762CD @7 2 8=@32= DFAA=J 492:? 4@==2AD6]k^Am
kAmq6?:49@F C6>6>36CD D9:AA:?8 4@DED D@2C:?8 E96? E@ S`c[___ A6C 4@?E2:?6C]k^Am
kAm:>^;93^C=k^Am
